BMO Capital Markets Increases Toromont Industries (TSE:TIH) Price Target to C$124.00

by · The Markets Daily

Toromont Industries (TSE:TIH – Free Report) had its price objective increased by BMO Capital Markets from C$116.00 to C$124.00 in a research note published on Monday morning, BayStreet.CA reports.

A number of other equities research analysts also recently commented on the company. Scotiabank reduced their target price on Toromont Industries from C$126.00 to C$124.00 and set an outperform rating on the stock in a research report on Wednesday, November 1st. National Bankshares increased their price target on shares of Toromont Industries from C$128.00 to C$129.00 and gave the stock an outperform rating in a research report on Tuesday, October 31st. Raymond James cut their target price on shares of Toromont Industries from C$130.00 to C$125.00 and set an outperform rating on the stock in a research note on Thursday, November 2nd. Canaccord Genuity Group decreased their target price on Toromont Industries from C$127.00 to C$123.00 and set a buy rating for the company in a report on Wednesday, November 1st. Finally, Royal Bank of Canada reduced their price target on Toromont Industries from C$131.00 to C$125.00 and set an outperform rating on the stock in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of C$124.38.

Get Our Latest Stock Report on Toromont Industries

Toromont Industries Price Performance

Shares of Toromont Industries stock opened at C$113.95 on Monday. The company has a debt-to-equity ratio of 25.73, a current ratio of 2.72 and a quick ratio of 1.38. The business has a 50 day simple moving average of C$110.41 and a two-hundred day simple moving average of C$109.93. The stock has a market capitalization of C$9.38 billion, a P/E ratio of 17.24, a PEG ratio of 3.72 and a beta of 0.75. Toromont Industries has a 12 month low of C$96.20 and a 12 month high of C$117.13.

Toromont Industries (TSE:TIH – Get Free Report) last posted its quarterly earnings data on Monday, October 30th. The company reported C$1.76 EPS for the quarter, beating the consensus estimate of C$1.52 by C$0.24. Toromont Industries had a return on equity of 22.32% and a net margin of 11.65%. The firm had revenue of C$1.17 billion during the quarter, compared to the consensus estimate of C$1.23 billion. As a group, analysts predict that Toromont Industries will post 6.2130178 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, January 4th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 7th. Toromont Industries’s payout ratio is currently 26.02%.

Insider Activity

In related news, Director Scott Medhurst sold 6,300 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of C$110.02, for a total value of C$693,126.00. In other news, Director Scott Medhurst sold 6,300 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of C$110.02, for a total transaction of C$693,126.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$115.06, for a total value of C$69,036.00. Insiders have sold 10,671 shares of company stock valued at $1,194,069 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Toromont Industries Company Profile

(Get Free Report)

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.

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