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

Toromont Industries (TSE:TIH) had its target price increased by stock analysts at TD Securities from C$153.00 to C$154.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 9.62% from the stock’s previous close.

TIH has been the subject of several other reports. Canaccord Genuity Group lowered their price objective on Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. BMO Capital Markets lifted their price objective on Toromont Industries from C$140.00 to C$147.00 in a research report on Wednesday. Scotiabank lowered their price objective on Toromont Industries from C$133.50 to C$128.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. CIBC lifted their price objective on Toromont Industries from C$120.00 to C$129.00 in a research report on Friday, July 18th. Finally, Raymond James Financial lowered their price objective on 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, 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. According to MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and a consensus target price of C$140.50.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$140.49 on Thursday. The firm has a market cap of C$11.46 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 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$142.05. The business has a fifty day simple moving average of C$124.82 and a 200 day simple moving average of C$119.23.

Insider Activity

In other news, Director David Allan Malinauskas sold 250 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$118.71, for a total value of C$29,677.50. Following the completion of the sale, the director directly owned 600 shares in the company, valued at C$71,226. This trade represents a 29.41% decrease in their position. Also, Senior Officer Mike Cuddy sold 5,000 shares of the firm’s 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. Insiders sold a total of 15,450 shares of company stock worth $1,818,938 in the last three months. Company insiders own 0.27% of the company’s stock.

About Toromont Industries

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.