Toromont Industries (TSE:TIH) Given New C$215.00 Price Target at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price objective hoisted by BMO Capital Markets from C$210.00 to C$215.00 in a report issued on Tuesday,BayStreet.CA reports.

Other analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce raised their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Raymond James Financial lifted their price objective on Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday, February 12th. TD Securities lifted their price objective on Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group lifted their price objective on Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and a consensus price target of C$199.25.

Toromont Industries Stock Performance

Toromont Industries stock opened at C$200.73 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. The stock has a market capitalization of C$16.35 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 3.72 and a beta of 0.91. The stock has a 50-day simple moving average of C$195.88 and a 200 day simple moving average of C$174.97. Toromont Industries has a 12-month low of C$108.44 and a 12-month high of C$215.58.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. The business had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. On average, research analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, March 6th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s dividend payout ratio is presently 34.27%.

Insider Activity at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total value of C$195,955.20. 0.27% of the stock is currently 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.