Toromont Industries (TSE:TIH) Price Target Cut to C$136.00 by Analysts at TD Securities

Toromont Industries (TSE:TIH) had its target price trimmed by TD Securities from C$143.00 to C$136.00 in a report issued on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Royal Bank of Canada raised their price objective 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. Raymond James cut their price target on Toromont Industries from C$130.00 to C$122.00 and set a “market perform” rating for the company in a report on Friday. CIBC decreased their price objective 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. National Bankshares raised their target price on Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Scotiabank decreased their price target on Toromont Industries from C$133.50 to C$128.00 and set a “sector perform” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Toromont Industries has a consensus rating of “Moderate Buy” and an average target price of C$129.63.

Toromont Industries Trading Down 2.0 %

Shares of Toromont Industries stock opened at C$108.77 on Monday. The stock has a market capitalization of C$8.87 billion, a P/E ratio of 17.66, 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 company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The stock’s 50-day simple moving average is C$114.43 and its 200 day simple moving average is C$116.81.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, April 4th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, March 7th. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio is currently 31.18%.

Insider Activity at Toromont Industries

In related news, Director Frederick James Mifflin bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of C$110.05 per share, for a total transaction of C$55,025.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of the 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 value of C$575,000.00. In the last three months, insiders have sold 10,200 shares of company stock valued at $1,204,504. Corporate 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.