Toromont Industries (TSE:TIH) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Toromont Industries Ltd. (TSE:TIH)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$121.21 and traded as low as C$116.40. Toromont Industries shares last traded at C$118.31, with a volume of 75,433 shares.

Analyst Ratings Changes

TIH has been the subject of several recent analyst reports. National Bankshares cut their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. BMO Capital Markets cut their price objective on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. Raymond James decreased their target price on Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$135.13.

Toromont Industries Stock Performance

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’s 50-day moving average price is C$115.02 and its 200-day moving average price is C$121.21. The company has a market cap of C$9.69 billion, a P/E ratio of 18.87, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were given a dividend of $0.48 per share. The ex-dividend date was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.62%. Toromont Industries’s payout ratio is presently 30.62%.

Insider Transactions at Toromont Industries

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

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.