Toromont Industries (TSE:TIH) Share Price Crosses Above 200-Day Moving Average of $118.32

Toromont Industries Ltd. (TSE:TIH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$118.32 and traded as high as C$130.00. Toromont Industries shares last traded at C$129.77, with a volume of 61,602 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TIH. CIBC boosted their price objective 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. Royal Bank of Canada boosted their target price on Toromont Industries from C$125.00 to C$140.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. National Bankshares set a C$137.00 target price on Toromont Industries and gave the company an “outperform” rating in a research report on Thursday, February 15th. BMO Capital Markets boosted their target price on Toromont Industries from C$124.00 to C$130.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Scotiabank boosted their target price on Toromont Industries from C$125.00 to C$133.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$135.38.

Toromont Industries Stock Up 0.4 %

The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38. The stock has a market cap of C$10.68 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The business has a fifty day moving average of C$127.80 and a 200-day moving average of C$118.32.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. The firm had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. Equities research analysts anticipate that Toromont Industries Ltd. will post 6.3025012 earnings per share for the current year.

Toromont Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, April 4th were issued a $0.48 dividend. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, March 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%. Toromont Industries’s payout ratio is presently 30.09%.

Insider Activity at Toromont Industries

In related news, Director David Allan Malinauskas sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other Toromont Industries news, Director William John Harvey sold 300 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total transaction of C$37,770.00. Also, Director David Allan Malinauskas sold 8,700 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Over the last quarter, insiders sold 21,700 shares of company stock worth $2,727,180. Company insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

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.