Toromont Industries Ltd. (TSE:TIH) Receives Consensus Recommendation of “Buy” from Brokerages

Toromont Industries Ltd. (TSE:TIHGet Rating) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the company, reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$125.70.

A number of brokerages have recently issued reports on TIH. Scotiabank lifted their price target on Toromont Industries from C$125.00 to C$126.00 in a report on Friday. Raymond James raised their price objective on Toromont Industries from C$120.00 to C$127.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Canaccord Genuity Group boosted their target price on shares of Toromont Industries from C$120.00 to C$123.00 in a report on Friday, February 11th. BMO Capital Markets raised their price target on shares of Toromont Industries from C$126.00 to C$130.00 in a report on Friday. Finally, National Bankshares lifted their price objective on shares of Toromont Industries from C$125.00 to C$126.00 in a research report on Wednesday, January 5th.

In related news, Director David Allan Malinauskas sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 2,070 shares in the company, valued at approximately C$235,462.50. Also, Senior Officer Jennifer Cochrane sold 4,000 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of C$116.25, for a total value of C$465,000.00. Following the sale, the insider now owns 11,500 shares in the company, valued at approximately C$1,336,875. Insiders sold a total of 27,300 shares of company stock valued at $3,138,100 over the last ninety days.

TSE TIH opened at C$113.09 on Monday. Toromont Industries has a one year low of C$97.76 and a one year high of C$124.25. 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 company has a market capitalization of C$9.33 billion and a price-to-earnings ratio of 28.27. The company’s 50-day simple moving average is C$116.29 and its two-hundred day simple moving average is C$112.38.

Toromont Industries (TSE:TIHGet Rating) last released its quarterly earnings data on Wednesday, February 9th. The company reported C$1.28 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of C$1.11 billion. Equities analysts expect that Toromont Industries will post 4.9900001 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Stockholders of record on Monday, April 4th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $1.56 annualized dividend and a dividend yield of 1.38%. This is an increase from Toromont Industries’s previous quarterly dividend of $0.35. Toromont Industries’s dividend payout ratio is 36.00%.

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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Analyst Recommendations for Toromont Industries (TSE:TIH)

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