Stifel Nicolaus Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its target price lifted by analysts at Stifel Nicolaus from C$250.00 to C$260.00 in a report issued on Wednesday, BayStreet reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus‘s price target would indicate a potential upside of 29.73% from the stock’s current price.

Several other analysts also recently weighed in on the company. Scotiabank increased their target price on Toromont Industries from C$239.00 to C$244.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Royal Bank Of Canada dropped their price target on Toromont Industries from C$265.00 to C$261.00 and set an “outperform” rating on the stock in a research report on Tuesday. Canadian Imperial Bank of Commerce upped their price target on Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th. BMO Capital Markets increased their price objective on Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Raymond James Financial upped their target price on shares of Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus price target of C$246.60.

Toromont Industries Stock Down 4.3%

TSE TIH traded down C$8.98 during trading on Wednesday, hitting C$200.42. 232,629 shares of the company traded hands, compared to its average volume of 280,274. The company has a market capitalization of C$16.35 billion, a P/E ratio of 31.91, a PEG ratio of 3.72 and a beta of 0.83. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. The business has a fifty day simple moving average of C$209.47 and a 200 day simple moving average of C$209.53. Toromont Industries has a 12 month low of C$155.85 and a 12 month high of C$243.50.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Monday, November 2nd. The company reported C$2.33 EPS for the quarter. The company had revenue of C$1.65 billion for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. As a group, sell-side analysts predict that Toromont Industries will post 6.59 EPS for the current year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.