Toromont Industries (TSE:TIH) Given New C$208.00 Price Target at Scotiabank

Toromont Industries (TSE:TIH) had its price target increased by Scotiabank from C$181.00 to C$208.00 in a research report report published on Wednesday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial upped their price objective on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. TD Securities upped their price target on shares of Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a report on Tuesday. Canadian Imperial Bank of Commerce increased their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Raymond James Financial boosted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group raised their target price on Toromont Industries from C$172.00 to C$200.00 in a report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$198.63.

Toromont Industries Stock Performance

Shares of TSE TIH opened at C$202.07 on Wednesday. Toromont Industries has a one year low of C$107.32 and a one year high of C$207.86. 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 firm has a market cap of C$16.46 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 3.72 and a beta of 0.52. The stock’s fifty day moving average price is C$175.67 and its two-hundred day moving average price is C$161.61.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. The company had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. On average, equities analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Toromont Industries’s dividend payout ratio (DPR) is presently 34.27%.

Insider Activity

In related news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries 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 sale, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their position. 0.27% of the stock is 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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.