Scotiabank Increases Toromont Industries (TSE:TIH) Price Target to C$140.00

Toromont Industries (TSE:TIH) had its price objective increased by equities researchers at Scotiabank from C$132.00 to C$140.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 0.35% from the company’s current price.

TIH has been the topic of a number of other reports. Canaccord Genuity Group reduced their price target on shares of Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. TD Securities lifted their price target on shares of Toromont Industries from C$153.00 to C$154.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday. Raymond James Financial reduced their price target on shares of Toromont Industries from C$130.00 to C$122.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Finally, National Bankshares lifted their price target on shares of Toromont Industries from C$130.00 to C$140.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$140.50.

Toromont Industries Price Performance

Shares of TIH stock opened at C$140.49 on Thursday. The company has a market capitalization of C$11.46 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$107.32 and a one year high of C$142.05. The company’s fifty day moving average price is C$124.82 and its 200-day moving average price is C$119.23. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Insider Transactions at Toromont Industries

In related news, 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. Also, Senior Officer Mike Cuddy sold 5,000 shares of Toromont Industries stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of C$117.10, for a total transaction of C$585,500.00. Insiders have sold a total of 15,450 shares of company stock worth $1,818,938 in the last three months. Insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.