Analysts Set Toromont Industries Ltd. (TSE:TIH) Target Price at C$140.50

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$140.50.

TIH has been the subject of several research reports. National Bankshares upped their price target on shares of Toromont Industries from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. CIBC upped their price target on shares of Toromont Industries from C$129.00 to C$148.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Canaccord Genuity Group lowered their price target on shares of Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. TD Securities increased their target price on shares of Toromont Industries from C$153.00 to C$154.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Scotiabank increased their target price on shares of Toromont Industries from C$132.00 to C$140.00 and gave the company a “sector perform” rating in a research report on Thursday, July 31st.

Insider Buying and Selling

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of C$120.00, for a total transaction of C$600,000.00. 0.27% of the stock is owned by insiders.

Toromont Industries Price Performance

Shares of TIH stock opened at C$142.76 on Thursday. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company has a market capitalization of C$11.64 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.72 and a beta of 0.68. The company’s 50-day simple moving average is C$130.65 and its two-hundred day simple moving average is C$121.30. Toromont Industries has a one year low of C$107.32 and a one year high of C$143.75.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.5%. Toromont Industries’s payout ratio is 31.18%.

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.