Toromont Industries (TSE:TIH) Stock Price Expected to Rise, CIBC Analyst Says

Toromont Industries (TSE:TIH) had its target price hoisted by research analysts at CIBC from C$120.00 to C$129.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 0.20% from the company’s current price.

A number of other research analysts also recently commented on TIH. BMO Capital Markets reduced their price objective 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, May 2nd. TD Securities reduced their price objective on shares of Toromont Industries from C$143.00 to C$136.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Canaccord Genuity Group reduced their price objective on shares of Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Scotiabank reduced their price objective on shares of Toromont Industries from C$133.50 to C$128.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Finally, Raymond James Financial reduced their price objective on shares of Toromont Industries from C$130.00 to C$122.00 and set a “market perform” rating on the stock in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$130.75.

Toromont Industries Trading Down 1.3%

TSE TIH opened at C$128.74 on Friday. The company’s fifty day simple moving average is C$121.39 and its 200-day simple moving average is C$117.83. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$134.88. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The stock has a market cap of C$10.50 billion, a P/E ratio of 20.91, a PEG ratio of 3.72 and a beta of 0.68.

Insider Buying and Selling at Toromont Industries

In related news, Senior Officer Mike Cuddy sold 5,000 shares of Toromont Industries stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of C$117.10, for a total value of C$585,500.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of C$120.00, for a total transaction of C$600,000.00. Insiders sold a total of 15,450 shares of company stock valued at $1,818,938 over the last three months. 0.27% of the stock is currently owned by company insiders.

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.