Toromont Industries (TSE:TIH) Price Target Raised to C$138.00

Toromont Industries (TSE:TIH) had its price target raised by stock analysts at BMO Capital Markets from C$134.00 to C$138.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 14.94% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. CIBC increased their price objective on Toromont Industries from C$128.00 to C$129.00 in a report on Monday, February 3rd. National Bankshares lowered their target price on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their target price on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Scotiabank lowered their target price on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Finally, Raymond James lowered their target price on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$134.88.

Toromont Industries Price Performance

Shares of Toromont Industries stock traded up C$2.71 during trading on Wednesday, hitting C$120.06. 67,715 shares of the stock traded hands, compared to its average volume of 150,298. The firm’s fifty day moving average is C$115.19 and its 200-day moving average is C$121.13. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. Toromont Industries has a 52 week low of C$109.83 and a 52 week high of C$135.53. The stock has a market cap of C$9.83 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 3.72 and a beta of 0.68.

Insider Buying and Selling at Toromont Industries

In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of Toromont Industries stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is currently owned by corporate insiders.

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.