Toromont Industries (TSE:TIH) Price Target Raised to C$215.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price target lifted by BMO Capital Markets from C$210.00 to C$215.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 7.34% from the stock’s previous close.

A number of other brokerages have also weighed in on TIH. TD Securities upped their target price on shares of Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Scotiabank upped their target price on shares of Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Royal Bank Of Canada increased their price objective on shares of Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$199.25.

Toromont Industries Stock Performance

Shares of TIH traded up C$5.03 during mid-day trading on Tuesday, hitting C$200.30. 134,030 shares of the company traded hands, compared to its average volume of 262,786. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93. The stock has a 50-day moving average price of C$195.50 and a two-hundred day moving average price of C$174.63. Toromont Industries has a 1 year low of C$108.44 and a 1 year high of C$215.58. The stock has a market cap of C$16.31 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 3.72 and a beta of 0.91.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. The firm had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. Equities analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current year.

Insider Buying and Selling

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20. 0.27% of the stock is owned by company insiders.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.