Toromont Industries (TSE:TIH) Downgraded by National Bank Financial to “Hold”

Toromont Industries (TSE:TIH) was downgraded by equities research analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

A number of other brokerages also recently commented on TIH. Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. BMO Capital Markets boosted their price target on Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. National Bankshares cut Toromont Industries from an “outperform” rating to a “sector perform” rating in a research report on Tuesday. TD Securities boosted their target price on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price target on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Toromont Industries currently has an average rating of “Hold” and an average price target of C$138.00.

Toromont Industries Stock Performance

TIH opened at C$129.14 on Monday. The business’s 50-day simple moving average is C$126.89 and its 200 day simple moving average is C$125.03. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. 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$10.58 billion, a PE ratio of 20.60, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.53 by C$0.11. The company had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. As a group, sell-side analysts expect that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.