Toromont Industries (TSE:TIH) PT Raised to C$69.00 at CIBC

Toromont Industries (TSE:TIH) had its price target hoisted by equities researchers at CIBC from C$68.00 to C$69.00 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 4.83% from the company’s previous close.

TIH has been the topic of several other reports. Canaccord Genuity raised their price objective on Toromont Industries from C$62.00 to C$64.00 and gave the company a “hold” rating in a report on Friday. Royal Bank of Canada dropped their price objective on West Fraser Timber from C$77.00 to C$75.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities raised their price objective on Westshore Terminals Investment from C$20.00 to C$21.00 and gave the company a “hold” rating in a report on Monday, May 6th. National Bank Financial dropped their price objective on Uni Select from C$17.00 to C$15.50 in a report on Friday. Finally, Raymond James reissued an “average” rating on shares of PPL in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$70.00.

TIH stock traded up C$1.05 during trading on Friday, hitting C$65.82. 116,317 shares of the company traded hands, compared to its average volume of 138,381. The stock’s 50-day moving average is C$61.80. The company has a current ratio of 1.62, a quick ratio of 0.63 and a debt-to-equity ratio of 50.75. The firm has a market capitalization of $5.28 billion and a P/E ratio of 20.77. Toromont Industries has a 1 year low of C$51.02 and a 1 year high of C$70.62.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported C$0.48 earnings per share for the quarter, missing the consensus estimate of C$0.49 by C($0.01). The company had revenue of C$699.97 million during the quarter, compared to the consensus estimate of C$732.00 million. Research analysts predict that Toromont Industries will post 3.9100002 earnings per share for the current year.

In related news, Director Randall Casson sold 17,700 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$60.75, for a total value of C$1,075,275.00. Following the sale, the director now owns 120,000 shares in the company, valued at approximately C$7,290,000.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Analyst Recommendations for Toromont Industries (TSE:TIH)

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