Toromont Industries (TSE:TIH) Stock Rating Upgraded by Raymond James Financial

Toromont Industries (TSE:TIH) was upgraded by equities researchers at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$235.00 price objective on the stock, up from their prior price objective of C$190.00. Raymond James Financial’s target price would suggest a potential downside of 2.88% from the company’s previous close.

TIH has been the topic of a number of other research reports. Canaccord Genuity Group raised Toromont Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from C$200.00 to C$235.00 in a research note on Monday, April 27th. National Bank Financial upped their target price on Toromont Industries from C$214.00 to C$216.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Scotiabank increased their target price on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Scotia lifted their price target on Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Finally, BMO Capital Markets increased their price objective on shares of Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$223.89.

Toromont Industries Trading Up 17.6%

Shares of Toromont Industries stock traded up C$36.27 during mid-day trading on Thursday, hitting C$241.98. 394,119 shares of the stock were exchanged, compared to its average volume of 254,368. The stock has a market capitalization of C$19.73 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98. Toromont Industries has a twelve month low of C$117.38 and a twelve month high of C$243.50. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19. The company has a 50-day simple moving average of C$215.84 and a 200 day simple moving average of C$194.57.

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 net margin of 9.64% and a return on equity of 16.06%. The business had revenue of C$1.23 billion for the quarter. Research analysts forecast that Toromont Industries will post 6.5892495 EPS 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.