Toromont Industries (TSE:TIH) Given New C$176.00 Price Target at National Bankshares

Toromont Industries (TSE:TIH) had its target price boosted by National Bankshares from C$164.00 to C$176.00 in a report released on Monday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price objective on shares of Toromont Industries to C$178.00 in a research report on Friday. Raymond James Financial increased their price objective on shares of Toromont Industries from C$122.00 to C$125.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. TD Securities increased their target price on shares of Toromont Industries from C$154.00 to C$179.00 in a report on Friday, October 17th. Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a report on Monday. Finally, Scotiabank increased their target price on shares of Toromont Industries from C$140.00 to C$171.00 in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus price target of C$172.88.

Toromont Industries Stock Performance

TSE:TIH opened at C$165.91 on Monday. 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 has a market capitalization of C$13.50 billion, a P/E ratio of 28.07, a PEG ratio of 3.72 and a beta of 0.64. The company has a 50 day moving average price of C$153.31 and a 200 day moving average price of C$134.99. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$168.56.

Toromont Industries Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, September 5th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Toromont Industries’s dividend payout ratio is 33.84%.

Insiders Place Their Bets

In other news, Director David Allan Malinauskas sold 6,000 shares of Toromont Industries stock in a transaction on Wednesday, September 10th. The shares were 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 Toromont Industries stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the sale, the insider directly owned 36,955 shares of the company’s stock, valued at approximately C$5,395,430. This trade represents a 16.87% decrease in their ownership of the stock. 0.27% of the stock is currently owned by company insiders.

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.