Toromont Industries (TSE:TIH) Price Target Lowered to C$132.00 at Raymond James

Toromont Industries (TSE:TIH) had its target price reduced by Raymond James from C$135.00 to C$132.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

TIH has been the topic of a number of other reports. National Bankshares reduced their target price on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating on the stock in a report on Friday. TD Securities reduced their price objective on Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research note on Friday. Scotiabank raised their price objective on Toromont Industries from C$125.00 to C$133.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. BMO Capital Markets lifted their target price on Toromont Industries from C$124.00 to C$130.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Finally, CIBC raised their price target on Toromont Industries from C$123.00 to C$130.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of C$132.75.

Toromont Industries Stock Performance

TSE TIH opened at C$122.28 on Friday. The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The business has a 50 day simple moving average of C$128.32 and a two-hundred day simple moving average of C$119.40. The stock has a market capitalization of C$10.06 billion, a PE ratio of 19.17, a P/E/G ratio of 3.72 and a beta of 0.72.

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

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 7th. Toromont Industries’s payout ratio is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. In related news, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$125.00, for a total value of C$375,000.00. Insiders have sold 21,700 shares of company stock valued at $2,727,180 in the last quarter. 0.27% of the stock is owned by insiders.

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.