Toromont Industries (TSE:TIH) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Toromont Industries Ltd. (TSE:TIH)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$183.95 and traded as high as C$219.63. Toromont Industries shares last traded at C$219.00, with a volume of 268,914 shares traded.

Analyst Upgrades and Downgrades

TIH has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price target on Toromont Industries from C$180.00 to C$190.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. National Bank Financial lifted their price target on Toromont Industries from C$214.00 to C$216.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce lifted their price target on Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$200.00 to C$235.00 in a report on Monday, April 27th. Finally, BMO Capital Markets lifted their price target on Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$216.44.

Toromont Industries Stock Up 1.3%

The stock has a fifty day moving average of C$204.42 and a 200 day moving average of C$183.95. The firm has a market capitalization of C$17.86 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 3.72 and a beta of 0.96. 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 (TSE:TIH) last issued its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The business had revenue of C$1.23 billion for the quarter. On average, research analysts anticipate that Toromont Industries Ltd. will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were given a $0.56 dividend. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, March 6th. Toromont Industries’s dividend payout ratio (DPR) is 33.70%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total value of C$195,955.20. 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.