Toromont Industries (TSE:TIH) Price Target Raised to C$228.00

Toromont Industries (TSE:TIH) had its price objective lifted by TD Securities from C$195.00 to C$228.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

TIH has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$196.00 to C$210.00 in a research report on Thursday, February 12th. Raymond James Financial boosted their price target on Toromont Industries from C$172.00 to C$180.00 in a report on Thursday, February 12th. Scotiabank lifted their price objective on Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. National Bank Financial lifted their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Finally, Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$172.00 to C$200.00 in a report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$198.63.

Toromont Industries Price Performance

TSE TIH opened at C$204.54 on Tuesday. The company has a 50-day moving average price of C$176.42 and a 200-day moving average price of C$161.91. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$207.86. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The firm has a market capitalization of C$16.66 billion, a P/E ratio of 33.70, a PEG ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 earnings per share (EPS) for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The company had revenue of C$1.42 billion for the quarter. Equities research analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, December 5th. Toromont Industries’s payout ratio is currently 34.27%.

Insider Buying and Selling

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the completion of the transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by company insiders.

About Toromont Industries

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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.