Toromont Industries Ltd. (TSE:TIH) Receives C$137.13 Average Target Price from Brokerages

Toromont Industries Ltd. (TSE:TIH) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$138.00.

TIH has been the topic of a number of recent analyst reports. BMO Capital Markets raised their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a research note on Friday. TD Securities raised their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Scotiabank set a C$136.00 target price on shares of Toromont Industries and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. National Bankshares increased their price target on Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price objective on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st.

Insider Activity

In other news, Director Peter James Blake acquired 300 shares of Toromont Industries stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of C$122.53 per share, with a total value of C$36,758.01. In other Toromont Industries news, Director Peter James Blake acquired 300 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of C$122.53 per share, for a total transaction of C$36,758.01. Also, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Insiders sold a total of 5,500 shares of company stock worth $677,864 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Price Performance

Shares of Toromont Industries stock opened at C$133.62 on Friday. The stock has a market cap of C$10.94 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The stock’s fifty day moving average is C$126.48 and its 200 day moving average is C$125.00. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The business had revenue of C$1.36 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Sell-side analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, September 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.