Toromont Industries Ltd. (TSE:TIH) Receives C$136.06 Consensus Target Price from Analysts

Toromont Industries Ltd. (TSE:TIH) has been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$136.06.

Several research analysts recently issued reports on TIH shares. National Bankshares raised their target price on Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. CIBC raised their target price on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BMO Capital Markets raised their target price on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th.

Insider Transactions at Toromont Industries

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average cost of C$111.45 per share, with a total value of C$501,525.00. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Trading Down 1.4 %

TSE TIH opened at C$121.00 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. The company has a market cap of C$9.87 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The business’s fifty day moving average is C$117.17 and its 200 day moving average is C$120.81.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 31.18%.

About Toromont Industries

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.