Royal Bank Of Canada Boosts Toromont Industries (TSE:TIH) Price Target to C$234.00

Toromont Industries (TSE:TIH) had its price target hoisted by equities researchers at Royal Bank Of Canada from C$207.00 to C$234.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 7.65% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets raised their target price on Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$200.00 to C$235.00 in a research report on Monday, April 27th. Scotia raised their target price on Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Thursday. National Bank Financial raised their target price on Toromont Industries from C$208.00 to C$214.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Finally, TD Securities raised their target price on Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy” and an average price target of C$216.44.

Toromont Industries Stock Performance

TIH stock opened at C$217.38 on Thursday. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17. The stock has a market capitalization of C$17.71 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 3.72 and a beta of 0.91. Toromont Industries has a 1 year low of C$108.51 and a 1 year high of C$217.97. The stock’s fifty day moving average is C$202.94 and its two-hundred day moving average is C$181.13.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. The company had revenue of C$1.23 billion for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%. On average, research analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Activity at Toromont Industries

In related news, Director David Allan Malinauskas sold 972 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total value of C$195,955.20. Insiders own 0.27% of the company’s stock.

Key Headlines Impacting Toromont Industries

Here are the key news stories impacting Toromont Industries this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to C$234 and maintains an “outperform” view — a clear bullish signal that helps underpin buying interest. Article Title
• Positive Sentiment: Scotia issued a positive forecast and boosted its target to C$229 (now “sector perform”), reinforcing buy-side momentum from another major bank. Article Title Supplement
• Positive Sentiment: National Bank Financial nudged its target to C$216 and keeps an “outperform” rating, adding incremental analyst support for the stock. Article Title
• Neutral Sentiment: Toromont announced the election of its board of directors — a routine corporate governance update that maintains continuity but is unlikely to move the stock materially on its own. Article Title
• Negative Sentiment: Raymond James raised its target to C$190 but left a “market perform” rating; that target still implies downside versus recent levels and represents the main cautious analyst voice among the recent notes. Article Title

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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.