Toromont Industries (TSE:TIH) Price Target Raised to C$133.50 at Scotiabank

Toromont Industries (TSE:TIH) had its price target upped by investment analysts at Scotiabank from C$132.00 to C$133.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 8.49% from the stock’s previous close.

TIH has been the subject of several other reports. CIBC increased their target price on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a report on Thursday. Raymond James upped their price target on Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research note on Thursday. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Royal Bank of Canada dropped their price target on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group upped their price target on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Stock Performance

Shares of TSE TIH traded up C$1.76 during midday trading on Thursday, hitting C$123.05. 55,978 shares of the company’s stock traded hands, compared to its average volume of 150,807. The firm has a fifty day moving average of C$115.34 and a 200 day moving average of C$121.14. The stock has a market capitalization of C$10.04 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is owned by 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.