Raymond James Issues Pessimistic Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its target price lowered by Raymond James from C$132.00 to C$122.00 in a research note issued on Wednesday,BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 2.33% from the stock’s previous close. Raymond James also issued estimates for Toromont Industries’ Q4 2024 earnings at $1.60 EPS.

Other equities analysts have also issued reports about the company. National Bank Financial lowered Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. BMO Capital Markets lifted their target price on Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Scotiabank decreased their price target on Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday. National Bankshares cut their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Finally, TD Securities upped their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Toromont Industries currently has an average rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Stock Down 0.3 %

Shares of TSE TIH opened at C$119.22 on Wednesday. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The stock has a market capitalization of C$9.77 billion, a PE ratio of 19.01, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$108.04 and a one year high of C$135.53. The business’s fifty day moving average price is C$127.10 and its 200-day moving average price is C$124.42.

Insider Activity

In other news, Senior Officer Jennifer Cochrane sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. In other news, Senior Officer Jennifer Cochrane sold 1,400 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total transaction of C$169,750.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders sold 4,500 shares of company stock worth $554,864 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

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.