Toromont Industries (TSE:TIH) Cut to “Hold” at National Bank Financial

National Bank Financial lowered shares of Toromont Industries (TSE:TIH) from a strong-buy rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada raised their target price on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Scotiabank set a C$136.00 target price on Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. BMO Capital Markets raised their price target on Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. National Bankshares cut Toromont Industries from an “outperform” rating to a “sector perform” rating in a report on Tuesday. Finally, TD Securities raised their price target on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$138.00.

Toromont Industries Stock Performance

TIH stock opened at C$129.04 on Monday. Toromont Industries has a 1 year low of C$100.81 and a 1 year high of C$135.53. The stock’s fifty day moving average price is C$127.01 and its 200-day moving average price is C$125.01. The company has a market cap of C$10.57 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH) last announced its 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 company had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. On average, equities analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.48 per share. The ex-dividend date was Friday, September 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.49%. Toromont Industries’s payout ratio is 30.62%.

Insider Activity

In other news, Director Peter James Blake acquired 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of C$122.53 per share, for a total transaction of C$36,758.01. In related news, Director Peter James Blake purchased 300 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought 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 Toromont Industries stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value 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.

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.