CIBC Has Lowered Expectations for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price target decreased by equities research analysts at CIBC from C$130.00 to C$120.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential upside of 8.16% from the stock’s current price.

A number of other equities analysts also recently commented on TIH. Scotiabank boosted their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. TD Securities reduced their price objective on shares of Toromont Industries from C$150.00 to C$143.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Canaccord Genuity Group raised their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price target on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, National Bankshares increased their price objective on Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$130.50.

Toromont Industries Trading Down 0.4 %

Shares of TSE:TIH opened at C$110.95 on Friday. The company has a market capitalization of C$9.05 billion, a PE ratio of 18.02, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$134.88. The business’s fifty day simple moving average is C$114.68 and its 200-day simple moving average is C$117.09.

Insider Buying and Selling

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction of C$575,000.00. Insiders sold 10,200 shares of company stock worth $1,204,504 in the last 90 days. Insiders own 0.27% of the company’s stock.

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.