Toromont Industries (TSE:TIH) Price Target Cut to C$132.00 by Analysts at Raymond James

Toromont Industries (TSE:TIH) had its price target reduced by investment analysts at Raymond James from C$135.00 to C$132.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target indicates a potential upside of 7.95% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Scotiabank raised their target price on shares of Toromont Industries from C$125.00 to C$133.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. National Bankshares cut their price objective on Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating on the stock in a research report on Friday. Canaccord Genuity Group upped their target price on Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. TD Securities lowered their target price on Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating for the company in a research note on Friday. Finally, BMO Capital Markets upped their price target on Toromont Industries from C$124.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$132.75.

Toromont Industries Trading Down 0.4 %

TIH opened at C$122.28 on Friday. 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 current ratio of 2.64 and a quick ratio of 1.38. The business has a 50 day simple moving average of C$128.32 and a two-hundred day simple moving average of C$119.31. The firm has a market capitalization of C$10.06 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$1.23 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Analysts predict that Toromont Industries will post 6.3025012 EPS for the current year.

Insider Transactions at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. In related news, 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 transaction of C$384,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of C$126.45, for a total value of C$240,255.00. Over the last three months, insiders have sold 21,700 shares of company stock valued at $2,727,180. Insiders own 0.27% of the company’s stock.

About Toromont Industries

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.