Toromont Industries Ltd. (TSE:TIH) Given Average Rating of “Moderate Buy” by Brokerages

Toromont Industries Ltd. (TSE:TIH) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$172.88.

A number of analysts have commented on TIH shares. CIBC increased their price target on shares of Toromont Industries from C$168.00 to C$172.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. BMO Capital Markets upped their target price on shares of Toromont Industries to C$178.00 in a report on Friday, October 31st. Royal Bank Of Canada raised their target price on shares of Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Canaccord Genuity Group boosted their price target on Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Raymond James Financial upped their price objective on Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd.

Toromont Industries Stock Up 2.1%

TIH stock opened at C$167.94 on Wednesday. The company has a market cap of C$13.67 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.72 and a beta of 0.62. Toromont Industries has a twelve month low of C$107.32 and a twelve month high of C$168.56. The business has a 50 day moving average price of C$161.69 and a two-hundred day moving average price of C$145.31. 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 (TSE:TIH) last announced its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.The company had revenue of C$1.31 billion for the quarter. Analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, January 5th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.08 annualized dividend and a yield of 1.2%. Toromont Industries’s dividend payout ratio (DPR) is currently 33.72%.

Insider Activity at Toromont Industries

In other news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the transaction, the insider directly owned 12,012 shares of the company’s stock, valued at C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. 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.