Toromont Industries (TSE:TIH) Price Target Raised to C$134.00

Toromont Industries (TSE:TIH) had its price target hoisted by Canaccord Genuity Group from C$130.00 to C$134.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on TIH. Royal Bank of Canada decreased their price target on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. BMO Capital Markets raised their price target on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. National Bankshares decreased their price target on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, Raymond James raised their price target on Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$136.06.

Toromont Industries Trading Down 1.5 %

Shares of Toromont Industries stock opened at C$121.10 on Thursday. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company has a market capitalization of C$9.88 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 3.72 and a beta of 0.68. The business has a fifty day simple moving average of C$115.72 and a two-hundred day simple moving average of C$121.02. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53.

Toromont Industries Announces Dividend

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

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price 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.