CIBC World Markets Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its target price lifted by CIBC World Markets from C$172.00 to C$180.00 in a report issued on Saturday morning,BayStreet.CA reports.

Other analysts have also issued research reports about the company. Scotiabank upped their price objective on 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. Raymond James Financial increased their price target 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. Royal Bank Of Canada raised their price target on Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. BMO Capital Markets upped their price objective on shares of Toromont Industries to C$178.00 in a report on Friday, October 31st. Finally, 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 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$176.22.

Toromont Industries Price Performance

TSE:TIH opened at C$184.71 on Friday. The company has a market cap of C$15.03 billion, a P/E ratio of 30.53, a P/E/G ratio of 3.72 and a beta of 0.52. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$185.17. The stock’s 50-day simple moving average is C$170.21 and its 200 day simple moving average is C$158.16. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.

Toromont Industries (TSE:TIH) last released 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 return on equity of 17.74% and a net margin of 10.09%. As a group, sell-side analysts forecast 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. Investors of record on Monday, January 5th were paid a $0.52 dividend. The ex-dividend date was Friday, December 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Toromont Industries’s dividend payout ratio is 33.72%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. This represents a 29.39% decrease in their position. 0.27% of the stock is owned by corporate insiders.

About Toromont Industries

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.