Toromont Industries (TSE:TIH) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Toromont Industries Ltd. (TSE:TIH)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$211.88 and traded as high as C$216.83. Toromont Industries shares last traded at C$209.99, with a volume of 260,268 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Toromont Industries from C$240.00 to C$242.00 in a research note on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Toromont Industries from C$256.00 to C$265.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. BMO Capital Markets upped their target price on shares of Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Scotia increased their target price on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, National Bank Financial raised their price target on Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$246.89.

Toromont Industries Price Performance

The company has a debt-to-equity ratio of 24.76, a current ratio of 2.73 and a quick ratio of 1.38. The company has a 50 day moving average price of C$222.84 and a 200 day moving average price of C$212.10. The firm has a market cap of C$16.69 billion, a PE ratio of 32.58, a PEG ratio of 3.72 and a beta of 0.97.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%.The firm had revenue of C$1.60 billion during the quarter. Sell-side analysts expect that Toromont Industries Ltd. will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Toromont Industries’s dividend payout ratio (DPR) is 34.39%.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.