Toromont Industries Ltd. (TSE:TIH) Receives Average Rating of “Moderate Buy” from Brokerages

Toromont Industries Ltd. (TSE:TIH) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is C$174.75.

A number of equities analysts recently commented on the company. Scotiabank upped their target price on Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. BMO Capital Markets upped their price objective on shares of Toromont Industries to C$178.00 in a report on Friday, October 31st. Royal Bank Of Canada raised their target price on shares of Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Canaccord Genuity Group boosted their price target on shares of Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Raymond James Financial increased their price target on shares of Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd.

Insider Buying and Selling

In other news, insider Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the sale, the insider owned 12,012 shares in the company, valued at approximately C$1,981,980. The trade was a 29.39% decrease in their position. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Stock Performance

Shares of TSE:TIH opened at C$179.23 on Thursday. 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 company has a 50-day moving average price of C$169.45 and a 200-day moving average price of C$157.41. The company has a market cap of C$14.59 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. Toromont Industries has a 12 month low of C$107.32 and a 12 month high of C$183.12.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 earnings per share (EPS) for the quarter. The company had revenue of C$1.31 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. As a group, equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were given a dividend of $0.52 per share. The ex-dividend date was Friday, December 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Toromont Industries’s payout ratio is currently 33.72%.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.