Toromont Industries (TSE:TIH) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Toromont Industries (TSE:TIH) to a strong-buy rating in a research note released on Monday,Zacks reports.

Several other research firms have also recently weighed in on TIH. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Raymond James Financial increased their price objective on shares of Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Scotiabank raised shares of Toromont Industries from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$238.00 to C$239.00 in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their target price on Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce upped their target price on Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of C$247.20.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$226.98 on Monday. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. The stock has a market cap of C$18.51 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 3.72 and a beta of 0.94. The stock’s fifty day simple moving average is C$211.03 and its two-hundred day simple moving average is C$214.15. Toromont Industries has a 1-year low of C$152.68 and a 1-year high of C$243.50.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. The firm had revenue of C$1.60 billion during the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. As a group, analysts forecast that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, October 2nd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 4th. Toromont Industries’s payout ratio is 34.39%.

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.