CIBC Increases Toromont Industries (TSE:TIH) Price Target to C$131.00

Toromont Industries (TSE:TIH) had its price objective increased by investment analysts at CIBC from C$129.00 to C$131.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential upside of 6.46% from the company’s previous close.

Several other brokerages have also recently issued reports on TIH. Scotiabank dropped their target price on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. BMO Capital Markets increased their price objective on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. Raymond James reduced their price target on Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Finally, Royal Bank of Canada reduced their price objective on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$136.28.

Toromont Industries Price Performance

Shares of Toromont Industries stock traded up C$1.76 on Thursday, reaching C$123.05. The company’s stock had a trading volume of 55,978 shares, compared to its average volume of 150,807. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53. The company has a market capitalization of C$10.04 billion, a P/E ratio of 19.98, a PEG ratio of 3.72 and a beta of 0.68. The stock has a 50-day moving average price of C$115.34 and a 200-day moving average price of C$121.14.

Insider Transactions at Toromont Industries

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Company insiders own 0.27% of the company’s stock.

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.