Toromont Industries (TSE:TIH) Given New C$214.00 Price Target at National Bank Financial

Toromont Industries (TSE:TIH) had its target price lifted by National Bank Financial from C$208.00 to C$214.00 in a report released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group boosted their target price on shares of Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. TD Securities boosted 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 research report on Tuesday, February 17th. 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. Royal Bank Of Canada boosted their target price on shares of Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Finally, Scotiabank boosted their target price on shares of Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and a consensus price target of C$204.00.

Toromont Industries Stock Up 4.4%

Shares of Toromont Industries stock opened at C$209.65 on Wednesday. The firm’s 50 day moving average price is C$196.42 and its 200-day moving average price is C$175.21. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. Toromont Industries has a 52-week low of C$108.44 and a 52-week high of C$215.58. The company has a market cap of C$17.08 billion, a P/E ratio of 34.54, a PEG ratio of 3.72 and a beta of 0.91.

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

Toromont Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a $0.56 dividend. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, March 6th. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. Toromont Industries’s payout ratio is currently 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 on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total value of C$195,955.20. 0.27% of the stock is 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.