Brokerages Set Toromont Industries Ltd. (TSE:TIH) Price Target at C$198.63

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$198.63.

TIH has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. TD Securities increased their target price 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, February 17th. Raymond James Financial boosted their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Thursday, February 12th. Canaccord Genuity Group upped their price objective on shares of Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. Finally, Scotiabank raised their price objective on Toromont Industries from C$181.00 to C$208.00 in a research note on Wednesday, February 18th.

Toromont Industries Stock Performance

TSE:TIH opened at C$189.99 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.38 and a debt-to-equity ratio of 25.87. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$215.58. The firm has a market capitalization of C$15.48 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 3.72 and a beta of 0.89. The business’s 50-day moving average price is C$193.63 and its two-hundred day moving average price is C$172.67.

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

Toromont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.56 per share. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 6th. Toromont Industries’s payout ratio is 34.27%.

Insider Buying and Selling at Toromont Industries

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