Toromont Industries (TSE:TIH) PT Lowered to C$125.00 at Scotiabank

Toromont Industries (TSE:TIH) had its price objective lowered by Scotiabank from C$133.00 to C$125.00 in a research report report published on Friday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

TIH has been the subject of a number of other reports. TD Securities reduced their price objective on shares of Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a report on Friday. BMO Capital Markets lifted their price target on Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Raymond James lowered their price objective on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a research note on Friday. Canaccord Genuity Group upped their price target on Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a report on Thursday, February 15th. Finally, CIBC lowered their price target on Toromont Industries from C$130.00 to C$128.00 and set a neutral rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries has an average rating of Moderate Buy and an average target price of C$132.75.

Toromont Industries Trading Down 0.4 %

TIH opened at C$122.28 on Friday. The company has a market cap of C$10.06 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The company has a fifty day moving average price of C$128.32 and a two-hundred day moving average price of C$119.40. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The business had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Analysts predict that Toromont Industries will post 6.3025012 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a $0.48 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.92 annualized dividend and a yield of 1.57%. Toromont Industries’s dividend payout ratio is currently 30.09%.

Insider Activity

In related news, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.10, for a total value of C$600,480.00. In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Director David Allan Malinauskas sold 8,700 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. Insiders sold a total of 21,700 shares of company stock valued at $2,727,180 in the last ninety days. 0.27% of the stock is currently 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.