BMO Capital Markets Lowers Toromont Industries (TSE:TIH) Price Target to C$128.00

Toromont Industries (TSE:TIH) had its price target dropped by BMO Capital Markets from C$130.00 to C$128.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 15.37% from the company’s current price.

TIH has been the topic of several other reports. CIBC lowered their target price on Toromont Industries from C$130.00 to C$120.00 and set a “neutral” rating on the stock in a research note on Friday. Raymond James lifted their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Scotiabank upped their price objective on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. National Bankshares lifted their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, TD Securities cut their price target on shares of Toromont Industries from C$150.00 to C$143.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$130.50.

Toromont Industries Stock Performance

TSE TIH opened at C$110.95 on Friday. The firm has a market cap of C$9.05 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$134.88. The business’s 50-day moving average price is C$114.68 and its 200 day moving average price is C$117.09. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Insider Buying and Selling at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of C$115.00, for a total value of C$575,000.00. Over the last three months, insiders sold 10,200 shares of company stock valued at $1,204,504. Corporate 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.