BMO Capital Markets Boosts Toromont Industries (TSE:TIH) Price Target to C$143.00

Toromont Industries (TSE:TIH) had its price objective lifted by BMO Capital Markets from C$136.00 to C$143.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

A number of other equities analysts also recently commented on TIH. TD Securities lifted their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price target on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Scotiabank set a C$136.00 price target on Toromont Industries and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Finally, National Bankshares lifted their target price on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$138.00.

Toromont Industries Stock Up 1.1 %

TSE:TIH opened at C$133.62 on Friday. The company has a market capitalization of C$10.94 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53. The stock has a 50-day simple moving average of C$126.48 and a 200 day simple moving average of C$125.00. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64.

Toromont Industries (TSE:TIH) last posted 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. The business had revenue of C$1.36 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. Sell-side analysts predict that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders 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%.

Insider Buying and Selling

In other Toromont Industries news, Director Peter James Blake acquired 300 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of C$122.53 per share, with a total value of C$36,758.01. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director Peter James Blake acquired 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of C$122.53 per share, with a total value of C$36,758.01. Insiders sold 5,500 shares of company stock valued at $677,864 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

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.