Toromont Industries Ltd (TSE:TIH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $64.11 and traded as high as $64.44. Toromont Industries shares last traded at $64.10, with a volume of 40,656 shares changing hands.
Several research analysts have issued reports on TIH shares. BMO Capital Markets upped their price target on Toromont Industries from C$72.00 to C$74.00 in a report on Friday, July 26th. National Bank Financial raised Toromont Industries from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$65.00 to C$71.00 in a report on Friday, July 26th. CIBC upped their price target on Toromont Industries from C$68.00 to C$69.00 in a report on Friday, July 26th. Raymond James reaffirmed an “outperform” rating and issued a C$75.00 price target on shares of Toromont Industries in a report on Friday, July 26th. Finally, Canaccord Genuity upped their price target on Toromont Industries from C$62.00 to C$64.00 and gave the company a “hold” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$70.00.
The company has a current ratio of 1.56, a quick ratio of 0.61 and a debt-to-equity ratio of 49.44. The stock has a market capitalization of $5.19 billion and a PE ratio of 19.43. The firm’s 50-day simple moving average is C$63.39 and its two-hundred day simple moving average is C$64.11.
Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.88 by C$0.06. The firm had revenue of C$978.32 million for the quarter, compared to analysts’ expectations of C$959.40 million. As a group, research analysts expect that Toromont Industries Ltd will post 3.9200002 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, September 5th. Toromont Industries’s payout ratio is 30.40%.
In other news, Senior Officer Paul Randolph Jewer sold 5,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of C$66.10, for a total transaction of C$330,500.00. Also, Director Scott Medhurst sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of C$65.57, for a total transaction of C$196,710.00. Following the transaction, the director now owns 163,494 shares in the company, valued at C$10,720,301.58. Over the last quarter, insiders have sold 11,600 shares of company stock worth $757,084.
About Toromont Industries (TSE:TIH)
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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