BMO Capital Markets Raises Toromont Industries (TSE:TIH) Price Target to C$130.00

Toromont Industries (TSE:TIHGet Rating) had its price objective boosted by BMO Capital Markets from C$126.00 to C$130.00 in a report published on Friday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on TIH. National Bankshares lifted their price objective on Toromont Industries from C$125.00 to C$126.00 in a report on Wednesday, January 5th. Canaccord Genuity Group boosted their price objective on Toromont Industries from C$120.00 to C$123.00 in a report on Friday, February 11th. Scotiabank boosted their price objective on Toromont Industries from C$125.00 to C$126.00 in a report on Friday. National Bank Financial boosted their target price on Toromont Industries to C$126.00 and gave the stock an outperform rating in a research report on Wednesday, January 5th. Finally, TD Securities boosted their target price on Toromont Industries from C$120.00 to C$125.00 and gave the stock 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 given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of C$125.70.

TSE:TIH opened at C$113.09 on Friday. Toromont Industries has a 12 month low of C$97.92 and a 12 month high of C$124.25. The firm has a market cap of C$9.32 billion and a price-to-earnings ratio of 28.27. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 34.09. The company’s 50 day moving average is C$116.29 and its 200-day moving average is C$112.33.

Toromont Industries (TSE:TIHGet Rating) last announced its quarterly earnings data on Wednesday, February 9th. The company reported C$1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.17 by C$0.11. The company had revenue of C$956.00 million during the quarter, compared to analyst estimates of C$1.11 billion. Research analysts predict that Toromont Industries will post 4.9900001 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Monday, April 4th were given a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 1.38%. Toromont Industries’s payout ratio is currently 39.00%.

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of C$116.25, for a total transaction of C$465,000.00. Following the completion of the transaction, the insider now owns 11,500 shares of the company’s stock, valued at approximately C$1,336,875. Also, Director David Allan Malinauskas sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of C$113.75, for a total value of C$1,137,500.00. Following the transaction, the director now directly owns 2,070 shares of the company’s stock, valued at approximately C$235,462.50. Insiders sold a total of 27,300 shares of company stock valued at $3,138,100 over the last quarter.

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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