Toromont Industries (TSE:TIH) Price Target Cut to C$125.00

Toromont Industries (TSE:TIHGet Free Report) had its price target decreased by research analysts at Raymond James from C$130.00 to C$125.00 in a research note issued on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 13.58% from the company’s previous close. Raymond James also issued estimates for Toromont Industries’ Q4 2023 earnings at $1.74 EPS, FY2023 earnings at $6.26 EPS and FY2024 earnings at $6.11 EPS.

Other analysts have also issued reports about the company. Scotiabank lowered their price target on Toromont Industries from C$126.00 to C$124.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets raised Toromont Industries from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from C$120.00 to C$116.00 in a research note on Wednesday. Royal Bank of Canada lowered their price objective on Toromont Industries from C$131.00 to C$125.00 and set an “outperform” rating on the stock in a research note on Wednesday. National Bankshares boosted their price objective on Toromont Industries from C$128.00 to C$129.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group lowered their price objective on Toromont Industries from C$127.00 to C$123.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$123.38.

Check Out Our Latest Analysis on TIH

Toromont Industries Stock Performance

Shares of TSE:TIH opened at C$110.05 on Thursday. The company has a debt-to-equity ratio of 27.07, a current ratio of 2.68 and a quick ratio of 1.38. The business’s 50 day moving average price is C$109.57 and its 200-day moving average price is C$108.98. The firm has a market capitalization of C$9.04 billion, a PE ratio of 17.84, a P/E/G ratio of 3.72 and a beta of 0.75. Toromont Industries has a 1 year low of C$96.20 and a 1 year high of C$117.13.

Insider Activity

In other Toromont Industries news, Director Benjamin David Cherniavsky purchased 500 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of C$112.30 per share, with a total value of C$56,150.00. Corporate insiders own 0.32% of the company’s stock.

Toromont Industries Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Toromont Industries (TSE:TIH)

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