Toromont Industries (TSE:TIH) Price Target Raised to C$240.00 at Canadian Imperial Bank of Commerce

Toromont Industries (TSE:TIH) had its price target boosted by research analysts at Canadian Imperial Bank of Commerce from C$215.00 to C$240.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 5.33% from the company’s current price.

A number of other research firms have also issued reports on TIH. Scotia increased their price target on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Scotiabank upped their price objective on shares of Toromont Industries from C$229.00 to C$238.00 and gave the company a “sector perform” rating in a research note on Tuesday. BMO Capital Markets increased their target price on shares of Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th. Raymond James Financial raised shares of Toromont Industries from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$190.00 to C$235.00 in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada upped their price target on shares of Toromont Industries from C$234.00 to C$256.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$238.67.

Toromont Industries Stock Down 0.3%

Shares of TIH stock traded down C$0.75 on Wednesday, reaching C$227.85. 116,798 shares of the company’s stock traded hands, compared to its average volume of 262,235. Toromont Industries has a 12-month low of C$125.00 and a 12-month high of C$243.50. 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 company has a market capitalization of C$18.58 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98. The business’s 50 day moving average price is C$222.03 and its two-hundred day moving average price is C$201.21.

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

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.