Toromont Industries Ltd. (TSE:TIH) Receives Consensus Rating of “Hold” from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus rating of “Hold” by the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$135.00.

A number of research analysts have commented on the company. Raymond James reduced their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. National Bank Financial cut Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. National Bankshares reduced their price objective on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their target price on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Finally, BMO Capital Markets dropped their target price on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. 0.27% of the stock is owned by corporate insiders.

Toromont Industries Trading Up 0.3 %

Shares of TIH opened at C$117.34 on Tuesday. The stock’s 50-day moving average is C$126.79 and its two-hundred day moving average is C$123.92. The stock has a market cap of C$9.61 billion, a PE ratio of 18.71, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12 month low of C$109.50 and a 12 month high of C$135.53. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, December 6th. Toromont Industries’s dividend payout ratio is currently 30.62%.

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.