Toromont Industries (TSE:TIH) Given New C$180.00 Price Target at Royal Bank Of Canada

Toromont Industries (TSE:TIH) had its price objective increased by Royal Bank Of Canada from C$151.00 to C$180.00 in a research report report published on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research firms also recently commented on TIH. TD Securities increased their price objective on shares of Toromont Industries from C$154.00 to C$179.00 in a research note on Friday, October 17th. Scotiabank increased their price objective on shares of Toromont Industries from C$140.00 to C$171.00 in a research note on Friday, October 17th. Raymond James Financial increased their price objective on shares of Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research note on Monday. Finally, CIBC increased their price objective on shares of Toromont Industries from C$148.00 to C$168.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$172.88.

Toromont Industries Trading Down 1.5%

TSE TIH opened at C$165.91 on Monday. Toromont Industries has a 12 month low of C$107.32 and a 12 month high of C$168.56. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company has a market capitalization of C$13.50 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.72 and a beta of 0.64. The company’s fifty day moving average price is C$153.31 and its two-hundred day moving average price is C$134.99.

Toromont Industries Announces Dividend

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

Insiders Place Their Bets

In other Toromont Industries news, Director David Allan Malinauskas sold 6,000 shares of the 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 the stock in a transaction dated 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 completion of the sale, the insider directly owned 36,955 shares in the company, valued at approximately C$5,395,430. This trade represents a 16.87% decrease in their position. 0.27% of the stock is currently owned by corporate 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.