Toromont Industries (TSE:TIH) Price Target Raised to C$228.00 at TD Securities

Toromont Industries (TSE:TIH) had its price objective upped by TD Securities from C$195.00 to C$228.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. National Bank Financial lifted their price target on 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. Canaccord Genuity Group raised their price objective on shares of Toromont Industries from C$172.00 to C$200.00 in a research note on Friday, February 13th. Raymond James Financial boosted their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday, February 12th. BMO Capital Markets increased their price target on shares of Toromont Industries from C$196.00 to C$210.00 in a report on Thursday, February 12th. Finally, Scotiabank raised their price target on shares of Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$194.50.

Toromont Industries Stock Up 0.8%

Toromont Industries stock opened at C$206.52 on Tuesday. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$207.86. The firm has a fifty day moving average price of C$174.94 and a two-hundred day moving average price of C$161.33. The firm has a market cap of C$16.82 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 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 company had revenue of C$1.42 billion for the quarter. As a group, analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current 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. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 5th. Toromont Industries’s payout ratio is 34.27%.

Insider Activity at Toromont Industries

In related news, insider Jennifer Cochrane sold 5,000 shares of the firm’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 transaction of C$825,000.00. Following the completion of the transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their position. Insiders own 0.27% of the company’s stock.

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.