Toromont Industries (TSE:TIH) Price Target Cut to C$140.00 by Analysts at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price objective lowered by BMO Capital Markets from C$143.00 to C$140.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Several other research analysts have also recently commented on the company. National Bankshares reduced their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. National Bank Financial downgraded shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. TD Securities upped their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James cut their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$135.00.

Toromont Industries Trading Down 0.5 %

Toromont Industries stock opened at C$118.65 on Wednesday. The business has a 50 day moving average price of C$127.07 and a two-hundred day moving average price of C$124.30. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. Toromont Industries has a 12 month low of C$109.50 and a 12 month high of C$135.53. The stock has a market cap of C$9.72 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.62%. Toromont Industries’s dividend payout ratio is 30.62%.

Insider Activity

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction that occurred 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. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction that occurred 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. Over the last 90 days, insiders sold 4,500 shares of company stock worth $554,864. 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.