Toromont Industries Ltd. (TSE:TIH) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$135.94.

Several analysts recently commented on TIH shares. Raymond James raised their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price objective on Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Canaccord Genuity Group boosted their price objective on Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. CIBC dropped their target price on shares of Toromont Industries from C$131.00 to C$130.00 in a report on Thursday. Finally, Scotiabank upped their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th.

Insider Buying and Selling at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00. Insiders sold a total of 10,200 shares of company stock worth $1,204,504 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Down 0.4 %

Shares of TSE:TIH opened at C$112.88 on Friday. The company has a 50 day moving average price of C$116.36 and a two-hundred day moving average price of C$118.30. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The company has a market capitalization of C$9.21 billion, a PE ratio of 18.33, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$134.88.

Toromont Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, April 4th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio is presently 31.18%.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.