Toromont Industries (TSE:TIH) PT Lowered to C$137.00 at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its price objective trimmed by Royal Bank of Canada from C$140.00 to C$137.00 in a report published on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on the stock. Raymond James boosted their target price on shares of Toromont Industries from C$125.00 to C$135.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Canaccord Genuity Group boosted their price objective 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. BMO Capital Markets raised their target price on Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a report on Wednesday, February 14th. TD Securities cut their target price on Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research report on Friday. Finally, Scotiabank increased their price target on Toromont Industries from C$125.00 to C$133.00 and gave the company a sector perform rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$132.75.

Toromont Industries Trading Down 0.4 %

Shares of Toromont Industries stock opened at C$122.28 on Friday. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The stock has a 50 day moving average price of C$128.32 and a two-hundred day moving average price of C$119.24. The stock has a market capitalization of C$10.06 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. The business had revenue of C$1.23 billion during the quarter, compared to the consensus estimate of C$1.19 billion. As a group, equities analysts anticipate that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. Also, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. Insiders sold 21,700 shares of company stock worth $2,727,180 in the last quarter. 0.27% of the stock is currently owned by company insiders.

About Toromont Industries

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.