Toromont Industries Ltd. (TSE:TIH) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Toromont Industries Ltd. (TSE:TIHGet Free Report) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$135.38.

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on Toromont Industries from C$125.00 to C$140.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Raymond James lifted their price target on shares of Toromont Industries from C$125.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. BMO Capital Markets raised their target price on Toromont Industries from C$124.00 to C$130.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. CIBC upped their price target on Toromont Industries from C$123.00 to C$130.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Scotiabank raised their price objective on Toromont Industries from C$125.00 to C$133.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th.

Read Our Latest Stock Analysis on Toromont Industries

Toromont Industries Trading Up 0.6 %

TIH opened at C$130.35 on Monday. The stock has a market cap of C$10.73 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$131.67. The company has a fifty day moving average of C$123.54 and a 200-day moving average of C$116.04.

Toromont Industries (TSE:TIHGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The firm had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. On average, sell-side analysts predict that Toromont Industries will post 6.3092933 EPS for the current year.

Toromont Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.48 per share. This is an increase from Toromont Industries’s previous quarterly dividend of $0.43. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 7th. Toromont Industries’s dividend payout ratio is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. Also, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.10, for a total value of C$600,480.00. Insiders have sold a total of 21,700 shares of company stock worth $2,727,180 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

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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