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

Toromont Industries Ltd. (TSE:TIH) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$172.88.

Several equities research analysts have recently issued reports on the company. National Bankshares raised their target price on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Scotiabank raised 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 note on Monday, November 3rd. BMO Capital Markets upped their price objective on Toromont Industries to C$178.00 in a research note on Friday, October 31st. CIBC increased their price objective on Toromont Industries from C$168.00 to C$172.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, TD Securities boosted their target price on Toromont Industries from C$179.00 to C$180.00 and gave the company a “buy” rating in a research note on Monday, November 3rd.

Insiders Place Their Bets

In other news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries 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 completion of the transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by corporate insiders.

Toromont Industries Price Performance

Toromont Industries stock opened at C$171.40 on Friday. The stock has a market cap of C$13.95 billion, a P/E ratio of 28.33, a P/E/G ratio of 3.72 and a beta of 0.58. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company’s 50 day moving average price is C$164.04 and its two-hundred day moving average price is C$150.93. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$171.53.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 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 during the quarter. On average, equities analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

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

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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.