Toromont Industries (TSE:TIH) Sets New 12-Month High – Still a Buy?

Shares of Toromont Industries Ltd. (TSE:TIH) reached a new 52-week high during trading on Thursday . The stock traded as high as C$181.81 and last traded at C$181.75, with a volume of 18473 shares traded. The stock had previously closed at C$179.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TIH shares. CIBC increased their target price on shares of Toromont Industries from C$168.00 to C$172.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Royal Bank Of Canada upped their price target on shares of Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Canaccord Genuity Group increased 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, November 3rd. Scotiabank boosted their target price on Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Finally, Raymond James Financial upped their target price on Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Toromont Industries has an average rating of “Moderate Buy” and an average price target of C$172.88.

Toromont Industries Stock Up 0.9%

The firm has a 50-day moving average of C$165.91 and a two-hundred day moving average of C$153.85. The firm has a market cap of C$14.77 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 3.72 and a beta of 0.58. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 earnings per share for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The firm had revenue of C$1.31 billion during the quarter. As a group, sell-side analysts predict that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Toromont Industries’s dividend payout ratio (DPR) is 33.72%.

Insider Transactions at Toromont Industries

In other news, insider Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the transaction, the insider directly owned 12,012 shares of the company’s stock, valued at C$1,981,980. The trade was a 29.39% decrease in their position. 0.27% of the stock is owned by corporate insiders.

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