National Bankshares Cuts Toromont Industries (TSE:TIH) Price Target to C$132.00

Toromont Industries (TSE:TIH) had its target price lowered by analysts at National Bankshares from C$135.00 to C$132.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. National Bankshares’ price objective suggests a potential upside of 10.92% from the company’s current price.

A number of other equities analysts also recently issued reports on TIH. TD Securities increased their price target on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price target on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Scotiabank set a C$136.00 price objective on Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, BMO Capital Markets lifted their price target on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$137.63.

Toromont Industries Trading Down 3.0 %

TSE:TIH traded down C$3.70 during trading hours on Tuesday, hitting C$119.00. The company had a trading volume of 111,098 shares, compared to its average volume of 104,665. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The stock has a 50-day moving average price of C$127.32 and a 200 day moving average price of C$124.64. The company has a market capitalization of C$9.75 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52 week low of C$107.82 and a 52 week high of C$135.53.

Insiders Place Their Bets

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. In related news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders have sold 5,500 shares of company stock valued at $677,864 over the last ninety days. 0.27% of the stock is owned by insiders.

About Toromont Industries

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.