Brokerages Set Toromont Industries Ltd. (TSE:TIH) Price Target at C$135.00

Toromont Industries Ltd. (TSE:TIH) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$135.00.

Several analysts have commented on the stock. Scotiabank decreased their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. National Bankshares decreased their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Raymond James cut their price target on Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. CIBC lifted their price objective on Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lowered their target price on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th.

Toromont Industries Price Performance

Shares of TSE TIH opened at C$113.28 on Wednesday. Toromont Industries has a 52 week low of C$109.83 and a 52 week high of C$135.53. The business’s 50 day moving average price is C$116.01 and its 200 day moving average price is C$121.87. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The firm has a market cap of C$9.28 billion, a P/E ratio of 18.07, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.69%. Toromont Industries’s payout ratio is currently 30.62%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is owned by insiders.

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.