Canaccord Genuity Group Has Lowered Expectations for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price target cut by Canaccord Genuity Group from C$134.00 to C$131.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 18.07% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets reduced their target price on shares of Toromont Industries from C$130.00 to C$128.00 and set an “outperform” rating on the stock in a research note on Friday. Scotiabank boosted their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. National Bankshares raised their price objective on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. CIBC reduced their target price on Toromont Industries from C$130.00 to C$120.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Royal Bank of Canada increased their price target on Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$130.50.

Toromont Industries Price Performance

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

Insiders Place Their Bets

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of C$115.00, for a total transaction of C$575,000.00. In the last quarter, insiders have sold 10,200 shares of company stock valued at $1,204,504. 0.27% of the stock is currently owned by corporate insiders.

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.