Toromont Industries (TSE:TIH) Downgraded by National Bankshares

Toromont Industries (TSE:TIH) was downgraded by equities research analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a research report issued on Tuesday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. TD Securities lifted their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their price objective on Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Finally, Scotiabank set a C$136.00 target price on Toromont Industries and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Toromont Industries currently has a consensus rating of “Hold” and an average target price of C$138.00.

Toromont Industries Price Performance

TSE TIH opened at C$129.04 on Tuesday. Toromont Industries has a 12-month low of C$100.81 and a 12-month high of C$135.53. The firm’s fifty day simple moving average is C$127.01 and its two-hundred day simple moving average is C$125.01. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The firm has a market capitalization of C$10.57 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The company had revenue of C$1.36 billion for the quarter, compared to analyst estimates of C$1.19 billion. Analysts forecast that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Over the last three months, insiders have sold 5,500 shares of company stock valued at $677,864. Corporate insiders own 0.27% of the company’s stock.

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.