Toromont Industries (TSE:TIH) Price Target Raised to C$133.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price target increased by stock analysts at BMO Capital Markets from C$130.00 to C$133.00 in a research note issued to investors on Monday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 7.98% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. TD Securities reduced their target price on shares of Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Raymond James decreased their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Canaccord Genuity Group lifted their target price 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. National Bankshares lowered their price target on Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, CIBC cut their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus target price of C$133.13.

Toromont Industries Price Performance

TSE:TIH opened at C$123.17 on Monday. The business’s 50-day moving average is C$128.17 and its 200 day moving average is C$119.65. Toromont Industries has a 12 month low of C$100.81 and a 12 month high of C$135.53. The company has a market capitalization of C$10.14 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.72 and a beta of 0.72. 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 issued its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of C$1.19 billion. On average, equities research analysts forecast that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Mike Cuddy sold 4,800 shares of Toromont Industries stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.10, for a total transaction of C$600,480.00. In related news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction that occurred 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 William John Harvey sold 300 shares of the firm’s 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. Over the last ninety days, insiders sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is currently owned by company 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.