Toromont Industries Ltd. (TSE:TIH) Receives C$135.00 Consensus Target Price from Analysts

Toromont Industries Ltd. (TSE:TIH) has earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$135.00.

TIH has been the topic of a number of recent analyst reports. Scotiabank dropped their price objective on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. National Bank Financial downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. TD Securities upped their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. National Bankshares decreased their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. 0.27% of the stock is currently owned by company insiders.

Toromont Industries Price Performance

Shares of TSE TIH opened at C$117.34 on Tuesday. The stock’s 50-day moving average is C$126.79 and its two-hundred day moving average is C$123.92. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. Toromont Industries has a 1-year low of C$109.50 and a 1-year high of C$135.53. The company has a market cap of C$9.61 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, December 6th. Toromont Industries’s payout ratio is currently 30.62%.

Toromont Industries Company Profile

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.