Toromont Industries (TSE:TIH) Price Target Raised to C$180.00

Toromont Industries (TSE:TIH) had its price objective hoisted by CIBC World Markets from C$172.00 to C$180.00 in a report released on Saturday morning,BayStreet.CA reports.

TIH has been the subject of a number of other research reports. Royal Bank Of Canada lifted their target price on shares of Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. TD Securities lifted their price objective on Toromont Industries from C$180.00 to C$195.00 in a research report on Wednesday, February 4th. Raymond James Financial boosted their target price on Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. National Bankshares raised their price target on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Canaccord Genuity Group lifted their price target on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$176.22.

Toromont Industries Price Performance

Shares of Toromont Industries stock opened at C$183.03 on Friday. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$185.17. 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 cap of C$14.89 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. The company’s 50-day moving average price is C$170.62 and its two-hundred day moving average price is C$158.69.

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

Toromont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, December 5th. Toromont Industries’s dividend payout ratio (DPR) is currently 33.72%.

Insiders Place Their Bets

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries 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 C$1,981,980. The trade was a 29.39% decrease in their ownership of the stock. 0.27% of the stock is currently owned by company insiders.

Toromont Industries Company Profile

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.