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

Toromont Industries (TSE:TIH) had its price target reduced by stock analysts at Scotiabank from C$133.50 to C$128.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 15.37% from the stock’s current price.

TIH has been the topic of a number of other reports. CIBC reduced their price objective on shares of Toromont Industries from C$130.00 to C$120.00 and set a “neutral” rating on the stock in a research note on Friday. BMO Capital Markets reduced their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set an “outperform” rating on the stock in a research report on Friday. Raymond James lowered their price objective on shares of Toromont Industries from C$130.00 to C$122.00 and set a “market perform” rating for the company in a research report on Friday. Canaccord Genuity Group reduced their target price on Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating on the stock in a report on Friday. Finally, TD Securities lowered their price target on 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 investment 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$130.50.

Toromont Industries Stock Performance

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

Insider Buying and Selling

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries 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 have 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.

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.