CIBC Trims Toromont Industries (TSE:TIH) Target Price to C$128.00

Toromont Industries (TSE:TIH) had its target price reduced by equities research analysts at CIBC from C$130.00 to C$128.00 in a report issued on Friday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential upside of 4.68% from the company’s current price.

A number of other research firms have also issued reports on TIH. 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 report on Thursday, February 15th. Raymond James dropped their price objective on shares of Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating on the stock in a research note on Friday. Royal Bank of Canada reduced their target price on shares of Toromont Industries from C$140.00 to C$137.00 and set an “outperform” rating for the company in a research note on Friday. TD Securities lowered their target price on shares of Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating on the stock in a report on Friday. Finally, National Bankshares cut their price target on shares of Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating for the company in a report on Friday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$132.75.

Toromont Industries Trading Down 0.4 %

TSE TIH opened at C$122.28 on Friday. The firm’s fifty day moving average is C$128.32 and its two-hundred day moving average is C$119.31. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. The firm has a market cap of C$10.06 billion, a PE ratio of 19.17, a P/E/G ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The firm had revenue of C$1.23 billion for 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%. Analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. In related news, Director David Allan Malinauskas sold 8,700 shares of the company’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. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. Over the last 90 days, insiders have sold 21,700 shares of company stock valued at $2,727,180. Corporate 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.