Toromont Industries Ltd. (TSE:TIH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$136.06.

TIH has been the subject of several recent research reports. CIBC upped their price target on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Raymond James upped their price target on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. BMO Capital Markets upped their target price on Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Scotiabank boosted their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the firm’s 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 valued at $1,204,504 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Performance

TSE:TIH opened at C$111.32 on Friday. The stock’s 50-day moving average is C$116.68 and its 200-day moving average is C$118.81. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$134.88. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The stock has a market cap of C$9.08 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were paid a $0.52 dividend. This is an increase from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, March 7th. Toromont Industries’s payout ratio is 31.18%.

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.