Toromont Industries (TSE:TIH) PT Raised to C$125.00

Toromont Industries (TSE:TIHGet Rating) had its target price hoisted by research analysts at Scotiabank from C$122.00 to C$125.00 in a research note issued on Friday, BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 3.49% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. National Bank Financial raised their price target on Toromont Industries to C$126.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 5th. National Bankshares lifted their target price on Toromont Industries from C$125.00 to C$126.00 in a research report on Wednesday, January 5th. Royal Bank of Canada lifted their target price on Toromont Industries from C$123.00 to C$126.00 and gave the company an “outperform” rating in a research report on Friday, February 11th. BMO Capital Markets lifted their target price on Toromont Industries from C$124.00 to C$126.00 in a research report on Thursday, February 10th. Finally, TD Securities lifted their target price on Toromont Industries from C$120.00 to C$125.00 and gave the company a “hold” rating in a research report on Monday, February 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries has an average rating of “Buy” and an average target price of C$123.50.

TIH traded down C$2.54 during midday trading on Friday, reaching C$120.78. 77,121 shares of the company were exchanged, compared to its average volume of 139,563. The stock has a market capitalization of C$9.96 billion and a P/E ratio of 30.34. The company has a debt-to-equity ratio of 34.09, a quick ratio of 1.68 and a current ratio of 2.59. The stock’s 50-day simple moving average is C$115.49 and its 200 day simple moving average is C$111.88. Toromont Industries has a one year low of C$97.76 and a one year high of C$124.25.

Toromont Industries (TSE:TIHGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The company reported C$1.28 EPS for the quarter, topping the Zacks’ consensus estimate of C$1.17 by C$0.11. The business had revenue of C$956.00 million for the quarter, compared to analyst estimates of C$1.11 billion. On average, research analysts anticipate that Toromont Industries will post 4.9304078 earnings per share for the current year.

In other news, Senior Officer Mike Cuddy sold 10,000 shares of Toromont Industries stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of C$114.50, for a total transaction of C$1,145,000.00. Following the completion of the transaction, the insider now directly owns 35,599 shares in the company, valued at approximately C$4,076,085.50. Also, Director Wayne S. Hill sold 800 shares of Toromont Industries stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of C$119.50, for a total value of C$95,600.00. Following the transaction, the director now owns 19,350 shares of the company’s stock, valued at C$2,312,325. Over the last 90 days, insiders sold 27,300 shares of company stock valued at $3,138,100.

Toromont Industries Company Profile (Get Rating)

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.

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