Canadian Imperial Bank of Commerce Boosts Toromont Industries (TSE:TIH) Price Target to C$180.00

Toromont Industries (TSE:TIH) had its price objective lifted by investment analysts at Canadian Imperial Bank of Commerce from C$172.00 to C$180.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target points to a potential downside of 2.55% from the stock’s previous close.

TIH has been the subject of several other reports. Scotiabank lifted their price target on shares of Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Canaccord Genuity Group increased their price objective on shares of 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. BMO Capital Markets boosted their target price on Toromont Industries to C$178.00 in a research report on Friday, October 31st. Raymond James Financial upped their price target on Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Finally, National Bankshares increased 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Toromont Industries currently has a consensus rating of “Moderate Buy” and an average price target of C$176.22.

Toromont Industries Trading Up 1.9%

Shares of TIH stock opened at C$184.71 on Friday. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$185.17. 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 50 day simple moving average of C$170.21 and a two-hundred day simple moving average of C$158.16. The company has a market cap of C$15.03 billion, a P/E ratio of 30.53, a PEG ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 EPS for the quarter. The company had revenue of C$1.31 billion during the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. Research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. The trade was a 29.39% decrease in their position. Company insiders own 0.27% of the company’s stock.

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.