CIBC Forecasts Strong Price Appreciation for Toromont Industries (TSE:TIH) Stock

Toromont Industries (TSE:TIH) had its price objective boosted by stock analysts at CIBC from C$128.00 to C$129.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 12.59% from the company’s current price.

Several other equities research analysts have also weighed in on TIH. National Bankshares dropped their price target on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Raymond James decreased their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Finally, BMO Capital Markets cut their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$135.13.

Toromont Industries Stock Down 0.3 %

Shares of Toromont Industries stock opened at C$114.58 on Monday. The company’s fifty day simple moving average is C$114.92 and its two-hundred day simple moving average is C$121.40. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The company has a market cap of C$9.39 billion, a P/E ratio of 18.27, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Monday, November 4th. The company reported C$1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.67 by C($0.08). Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. During the same quarter in the prior year, the company earned $1.76 earnings per share. Research analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Activity at Toromont Industries

In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is currently owned by 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.