Toromont Industries (TSE:TIH) Cut to “Sector Perform” at National Bankshares

National Bankshares cut shares of Toromont Industries (TSE:TIH) from an outperform rating to a sector perform rating in a report issued on Tuesday morning, BayStreet.CA reports.

A number of other analysts have also recently commented on the company. BMO Capital Markets upped their price target on Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Royal Bank of Canada lifted their price target on shares of Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. TD Securities increased their price objective on shares of 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. Finally, Scotiabank set a C$136.00 price objective on Toromont Industries and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Toromont Industries has a consensus rating of “Hold” and a consensus target price of C$138.00.

Toromont Industries Stock Performance

The business has a 50-day simple moving average of C$127.01 and a 200 day simple moving average of C$125.01. 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 has a market capitalization of C$10.43 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 1-year low of C$100.81 and a 1-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 earnings per share for the quarter, topping the consensus estimate of C$1.53 by C$0.11. The business had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. As a group, analysts predict that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The company also recently announced 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 ?. Toromont Industries’s dividend payout ratio is currently 30.62%.

Insider Buying and Selling

In related news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. In other news, Director Peter James Blake bought 300 shares of Toromont Industries stock in a transaction dated 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. Also, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. Over the last 90 days, insiders have sold 5,500 shares of company stock worth $677,864. Insiders own 0.27% of the company’s stock.

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.