Toromont Industries Ltd. (TSE:TIH) Receives C$136.06 Consensus Price Target from Brokerages

Toromont Industries Ltd. (TSE:TIH) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$136.06.

A number of brokerages recently weighed in on TIH. Canaccord Genuity Group upped their price target on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. National Bankshares upped their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Raymond James increased their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets upped their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th.

Insider Buying and Selling

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$121.25, for a total value of C$606,250.00. Over the last ninety days, insiders sold 10,200 shares of company stock worth $1,204,504. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Stock Down 1.0 %

Shares of TSE TIH opened at C$114.84 on Monday. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53. The firm has a fifty day moving average of C$118.32 and a 200-day moving average of C$120.07. The stock has a market capitalization of C$9.37 billion, a PE ratio of 18.65, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be issued a $0.52 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a dividend yield of 1.81%. Toromont Industries’s dividend payout ratio (DPR) is 31.18%.

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.