Toromont Industries (TSE:TIH) PT Lowered to C$132.00 at Raymond James

Toromont Industries (TSE:TIH) had its target price decreased by Raymond James from C$135.00 to C$132.00 in a research note released on Friday morning, BayStreet.CA reports. Raymond James currently has a market perform rating on the stock.

Other equities analysts have also issued reports about the stock. TD Securities dropped their price objective on shares of Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research report on Friday. Canaccord Genuity Group raised their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a research report on Thursday, February 15th. CIBC upped their target price on Toromont Industries from C$123.00 to C$130.00 and gave the company a neutral rating in a research report on Thursday, February 15th. BMO Capital Markets lifted their price target on Toromont Industries from C$124.00 to C$130.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Finally, Scotiabank upped their price objective on Toromont Industries from C$125.00 to C$133.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$132.75.

Toromont Industries Price Performance

TSE:TIH opened at C$122.28 on Friday. The stock has a market capitalization of C$10.06 billion, a PE ratio of 19.17, a P/E/G ratio of 3.72 and a beta of 0.72. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The firm has a fifty day simple moving average of C$128.32 and a 200 day simple moving average 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 (TSE:TIH) last released its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. The company had revenue of C$1.23 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. On average, research analysts expect that Toromont Industries will post 6.3025012 EPS for the current fiscal year.

Toromont Industries Announces Dividend

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

Insider Buying and Selling

In other news, Director William John Harvey sold 300 shares of Toromont Industries stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. In related news, Director William John Harvey sold 300 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. Also, Director David Allan Malinauskas sold 8,700 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. In the last 90 days, insiders have sold 21,700 shares of company stock worth $2,727,180. Corporate insiders own 0.27% of the company’s stock.

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.