Toromont Industries Ltd. (TSE:TIH) Receives C$135.38 Consensus Price Target from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$135.38.

A number of analysts have weighed in on TIH shares. Canaccord Genuity Group upped their target price on Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. National Bankshares set a C$137.00 price target on Toromont Industries and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Scotiabank upped their price target on Toromont Industries from C$125.00 to C$133.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. BMO Capital Markets upped their price target on Toromont Industries from C$124.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Finally, Raymond James upped their target price on Toromont Industries from C$125.00 to C$135.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th.

Insider Activity at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total transaction of C$384,000.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total transaction of C$384,000.00. Also, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Insiders have sold a total of 21,700 shares of company stock valued at $2,727,180 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Toromont Industries Stock Down 1.5 %

Toromont Industries stock opened at C$126.00 on Friday. The business has a fifty day moving average of C$128.46 and a two-hundred day moving average of C$119.09. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The firm has a market cap of C$10.37 billion, a P/E ratio of 19.75, a P/E/G ratio of 3.72 and a beta of 0.72. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The company had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. On average, analysts forecast that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, April 4th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.52%. This is an increase from Toromont Industries’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, March 7th. Toromont Industries’s dividend payout ratio is presently 30.09%.

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 engages 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.