TD Securities Lowers Toromont Industries (TSE:TIH) Price Target to C$143.00

Toromont Industries (TSE:TIH) had its target price dropped by investment analysts at TD Securities from C$150.00 to C$143.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 25.18% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a report on Thursday, February 13th. CIBC cut their price objective on shares of Toromont Industries from C$131.00 to C$130.00 in a report on Thursday, April 17th. Royal Bank of Canada boosted their target price on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets increased their target price on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Finally, Scotiabank boosted their price objective on Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Three investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$135.06.

Toromont Industries Stock Performance

Shares of TIH opened at C$114.24 on Thursday. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$134.88. 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 stock’s fifty day moving average price is C$115.51 and its two-hundred day moving average price is C$117.59. The firm has a market cap of C$9.32 billion, a PE ratio of 18.55, a PEG ratio of 3.72 and a beta of 0.68.

Insiders Place Their Bets

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00. Insiders have sold 10,200 shares of company stock worth $1,204,504 in the last ninety days. 0.27% of the stock is currently owned by insiders.

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.