Toromont Industries (TSE:TIH) Price Target Cut to C$140.00 by Analysts at BMO Capital Markets

Toromont Industries (TSE:TIH) had its target price lowered by BMO Capital Markets from C$143.00 to C$140.00 in a research note issued on Wednesday, BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 15.86% from the stock’s previous close.

Other research analysts also recently issued reports about the company. TD Securities upped their target price on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Scotiabank decreased their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. Raymond James lowered their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday. National Bankshares reduced their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Finally, National Bank Financial lowered Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Toromont Industries presently has a consensus rating of “Hold” and an average target price of C$135.00.

Toromont Industries Stock Performance

Toromont Industries stock traded up C$1.83 during midday trading on Wednesday, hitting C$120.84. 238,672 shares of the company were exchanged, compared to its average volume of 106,025. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The firm has a market capitalization of C$9.90 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The business has a fifty day simple moving average of C$127.23 and a two-hundred day simple moving average of C$124.56. Toromont Industries has a fifty-two week low of C$107.82 and a fifty-two week high of C$135.53.

Insider Buying and Selling at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of C$123.00, for a total value of C$123,000.00. In related news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. Also, Senior Officer Jennifer Cochrane sold 1,000 shares of Toromont Industries stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of C$123.00, for a total value of C$123,000.00. Insiders sold 5,500 shares of company stock valued at $677,864 in the last 90 days. Company insiders own 0.27% of the company’s stock.

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.