Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Toromont Industries (TSE:TIH) had its target price hoisted by Canaccord Genuity Group from C$130.00 to C$134.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 8.90% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Scotiabank dropped their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Raymond James increased their target price on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a report on Thursday. BMO Capital Markets increased their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday. Royal Bank of Canada dropped their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Finally, National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$136.28.

Toromont Industries Stock Up 1.5 %

TSE TIH traded up C$1.76 during trading hours on Thursday, reaching C$123.05. 55,978 shares of the company traded hands, compared to its average volume of 150,807. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The stock has a market capitalization of C$10.04 billion, a PE ratio of 19.98, a PEG ratio of 3.72 and a beta of 0.68. The company has a 50 day moving average of C$115.34 and a two-hundred day moving average of C$121.14.

Insiders Place Their Bets

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of Toromont Industries stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$111.45 per share, with a total value of C$501,525.00. Corporate 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.