BMO Capital Markets Increases Toromont Industries (TSE:TIH) Price Target to C$133.00

Toromont Industries (TSE:TIH) had its price objective increased by stock analysts at BMO Capital Markets from C$130.00 to C$133.00 in a research note issued on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 7.98% from the stock’s previous close.

TIH has been the subject of several other research reports. Canaccord Genuity Group boosted their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Raymond James dropped their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada decreased their target price on Toromont Industries from C$140.00 to C$137.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. National Bankshares cut their price objective on Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, TD Securities lowered their target price on shares of Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy” and an average target price of C$133.13.

Toromont Industries Stock Down 0.4 %

Toromont Industries stock opened at C$123.17 on Monday. The firm has a market capitalization of C$10.14 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 3.72 and a beta of 0.72. The firm has a 50 day simple moving average of C$128.17 and a 200 day simple moving average of C$119.65. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The company had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.19 billion. On average, analysts predict that Toromont Industries will post 6.3025012 earnings per share for the current year.

Insiders Place Their Bets

In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. Also, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.10, for a total value of C$600,480.00. Over the last ninety days, insiders have sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is currently owned by corporate insiders.

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.