Toromont Industries (TSE:TIH) Given New C$180.00 Price Target at TD Securities

Toromont Industries (TSE:TIH) had its price objective upped by equities researchers at TD Securities from C$179.00 to C$180.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 8.13% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. National Bankshares lifted their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday. Scotiabank lifted their price objective on Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a report on Monday. Canaccord Genuity Group lifted their price objective on Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets lifted their price objective on Toromont Industries to C$178.00 in a report on Friday. Finally, Royal Bank Of Canada lifted their price objective on Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$172.88.

Toromont Industries Price Performance

Shares of TIH traded down C$2.04 during mid-day trading on Monday, hitting C$166.47. The company’s stock had a trading volume of 154,625 shares, compared to its average volume of 150,099. The firm has a 50-day simple moving average of C$152.86 and a 200 day simple moving average of C$134.62. The firm has a market capitalization of C$13.55 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.72 and a beta of 0.64. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$168.56. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

Insider Buying and Selling at Toromont Industries

In other news, insider Mike Cuddy sold 7,500 shares of Toromont Industries stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the completion of the sale, the insider owned 36,955 shares of the company’s stock, valued at C$5,395,430. The trade was a 16.87% decrease in their ownership of the stock. Also, Director David Allan Malinauskas sold 6,000 shares of Toromont Industries stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$146.10, for a total value of C$876,600.00. Company insiders own 0.27% of the company’s stock.

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.