Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Toromont Industries (TSE:TIH) had its price target lifted by stock analysts at Canaccord Genuity Group from C$240.00 to C$260.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 22.02% from the stock’s previous close.

Other analysts have also recently issued reports about the company. National Bank Financial boosted their price target on Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a research report on Thursday. Scotiabank lifted their target price on shares of Toromont Industries from C$229.00 to C$238.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada upped their target price on shares of Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a report on Thursday. Scotia raised their price target on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial upgraded shares of Toromont Industries from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$190.00 to C$235.00 in a research report on Thursday, June 18th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and an average price target of C$246.89.

Toromont Industries Price Performance

Toromont Industries stock traded up C$6.27 during midday trading on Thursday, reaching C$213.08. The company had a trading volume of 213,740 shares, compared to its average volume of 272,155. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38. Toromont Industries has a 12-month low of C$137.41 and a 12-month high of C$243.50. The company has a market capitalization of C$17.37 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.72 and a beta of 0.98. The firm’s fifty day simple moving average is C$224.43 and its 200-day simple moving average is C$207.86.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, July 28th. The company reported C$2.20 EPS for the quarter. The business had revenue of C$1.60 billion during the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%. As a group, equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.