Toromont Industries (TSE:TIH) PT Lowered to C$125.00 at Scotiabank

Toromont Industries (TSE:TIH) had its price target reduced by stock analysts at Scotiabank from C$133.00 to C$125.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 2.22% from the company’s previous close.

Several other research analysts have also recently weighed in on TIH. Royal Bank of Canada reduced their price objective on Toromont Industries from C$140.00 to C$137.00 and set an “outperform” rating for the company in a research report on Friday. Raymond James reduced their price target on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research report on Friday. Canaccord Genuity Group lifted their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the company a “buy” rating in a report on Thursday, February 15th. National Bankshares reduced their target price 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. Finally, TD Securities decreased their target price on shares of Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$132.75.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$122.28 on Friday. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The company’s 50 day moving average price is C$128.32 and its two-hundred day moving average price is C$119.31. The company has a market capitalization of C$10.06 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. On average, analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 8,700 shares of the business’s stock in a transaction dated 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 other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. Also, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction dated 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. Insiders sold a total of 21,700 shares of company stock worth $2,727,180 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.