TD Securities Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price target increased by TD Securities from C$179.00 to C$180.00 in a research note issued to investors on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Raymond James Financial upped their price target on shares of Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a research report on Monday. Royal Bank Of Canada upped their price target on shares of Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Monday. Canaccord Genuity Group upped their price target on shares of Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a research report on Monday. Scotiabank upped their price target on shares of Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, CIBC upped their price target on shares of Toromont Industries from C$148.00 to C$168.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$172.88.

Toromont Industries Stock Down 1.5%

Shares of TSE:TIH opened at C$165.91 on Monday. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$168.56. 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 company’s fifty day moving average is C$153.31 and its 200-day moving average is C$134.99. The company has a market capitalization of C$13.50 billion, a PE ratio of 28.07, a P/E/G ratio of 3.72 and a beta of 0.64.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 5th. Toromont Industries’s payout ratio is currently 33.84%.

Insider Activity

In other Toromont Industries news, Director David Allan Malinauskas sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total transaction of C$876,600.00. Also, insider Mike Cuddy sold 7,500 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the sale, the insider directly owned 36,955 shares of the company’s stock, valued at C$5,395,430. This represents a 16.87% decrease in their ownership of the stock. 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.