Toromont Industries (TSE:TIH) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Toromont Industries (TSE:TIH) had its price objective upped by equities researchers at BMO Capital Markets from C$134.00 to C$138.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 12.28% from the stock’s previous close.

A number of other research analysts also recently issued reports on TIH. Royal Bank of Canada dropped their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. CIBC upped their price objective on shares of Toromont Industries from C$128.00 to C$129.00 in a report on Monday, February 3rd. Finally, Scotiabank lowered their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Stock Up 1.3 %

Toromont Industries stock opened at C$122.91 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53. The firm’s fifty day moving average is C$115.34 and its 200 day moving average is C$121.14. The company has a market capitalization of C$10.02 billion, a PE ratio of 19.96, a PEG ratio of 3.72 and a beta of 0.68.

Insider Activity

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of Toromont Industries stock in a transaction that occurred on Tuesday, December 10th. The stock was bought at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is currently owned by corporate 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.