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

Toromont Industries (TSE:TIH) had its price objective upped by CIBC from C$129.00 to C$131.00 in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Scotiabank lowered their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. Finally, Raymond James reduced their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$136.06.

Toromont Industries Stock Performance

TSE:TIH opened at C$121.10 on Thursday. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The stock has a market capitalization of C$9.88 billion, a P/E ratio of 19.67, a PEG ratio of 3.72 and a beta of 0.68. The company has a 50 day moving average price of C$115.72 and a 200 day moving average price of C$121.02. Toromont Industries has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.59%. Toromont Industries’s payout ratio is 31.18%.

Insider Buying and Selling

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of the stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is 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.