CIBC Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its target price hoisted by CIBC from C$129.00 to C$131.00 in a report issued on Thursday,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

TIH has been the subject of several other research reports. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Scotiabank lowered their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. BMO Capital Markets increased their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. Raymond James lowered their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. Finally, National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$136.28.

Toromont Industries Trading Up 1.3 %

TSE TIH opened at C$122.91 on Thursday. Toromont Industries has a one year low of C$109.83 and a one year high of C$135.53. The company’s 50 day moving average price is C$115.34 and its 200 day moving average price is C$121.14. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a market capitalization of C$10.02 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries’s payout ratio is currently 31.18%.

Insider Transactions at Toromont Industries

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average price 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.