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

Toromont Industries Ltd. (TSE:TIH) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$153.00.

Several equities research analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Toromont Industries from C$140.00 to C$171.00 in a report on Friday, October 17th. Raymond James Financial upped their price objective on shares of Toromont Industries from C$122.00 to C$125.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. National Bankshares upped their price target on shares of Toromont Industries from C$140.00 to C$164.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. BMO Capital Markets upped their price target on shares of Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday, July 30th. Finally, TD Securities upped their price target on shares of Toromont Industries from C$154.00 to C$179.00 in a report on Friday, October 17th.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$146.10, for a total value of C$876,600.00. Also, insider Mike Cuddy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the sale, the insider directly owned 36,955 shares of the company’s stock, valued at C$5,395,430. This represents a 16.87% decrease in their ownership of the stock. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Down 1.4%

Toromont Industries stock opened at C$160.29 on Tuesday. The company has a 50-day simple moving average of C$151.50 and a 200-day simple moving average of C$133.14. The firm has a market capitalization of C$13.04 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.72 and a beta of 0.64. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. Toromont Industries has a one year low of C$107.32 and a one year high of C$163.12.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 5th. Toromont Industries’s dividend payout ratio is presently 33.84%.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.