Toromont Industries (TSE:TIH) Given New C$130.00 Price Target at Raymond James

Toromont Industries (TSE:TIH) had its price target increased by Raymond James from C$122.00 to C$130.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Raymond James currently has a market perform rating on the stock.

A number of other analysts have also weighed in on TIH. BMO Capital Markets raised their target price on Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday. CIBC raised their price target on Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a report on Thursday. National Bankshares decreased their price target on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Scotiabank decreased their price target on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus target price of C$136.28.

Toromont Industries Stock Performance

Shares of TSE:TIH opened at C$122.91 on Thursday. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. The firm has a market cap of C$10.02 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The business has a fifty day moving average of C$115.34 and a 200-day moving average of C$121.14.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is currently 31.18%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average price of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is currently 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.