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

Toromont Industries (TSE:TIH) had its price target raised by TD Securities from C$180.00 to C$195.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

TIH has been the subject of several other reports. CIBC raised their target price on shares of Toromont Industries from C$168.00 to C$172.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Royal Bank Of Canada lifted their price objective on Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Canaccord Genuity Group upped their target price on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. BMO Capital Markets raised their price target on Toromont Industries to C$178.00 in a research report on Friday, October 31st. Finally, National Bankshares boosted their price target on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Toromont Industries currently has a consensus rating of “Moderate Buy” and an average target price of C$174.75.

Toromont Industries Stock Performance

TIH opened at C$179.23 on Wednesday. The stock has a market cap of C$14.59 billion, a P/E ratio of 29.62, a P/E/G ratio of 3.72 and a beta of 0.52. 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 stock’s 50 day simple moving average is C$169.45 and its 200 day simple moving average is C$157.41. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$183.12.

Toromont Industries (TSE:TIH) last issued 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 firm had revenue of C$1.31 billion during the quarter. As a group, equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

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

Insider Activity

In other news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the completion of the sale, the insider owned 12,012 shares of the company’s stock, valued at C$1,981,980. The trade was a 29.39% decrease in their ownership of the stock. 0.27% of the stock is 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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.