Toromont Industries (TSE:TIH) Stock Price Expected to Rise, TD Securities Analyst Says

Toromont Industries (TSE:TIH) had its price objective raised by analysts at TD Securities from C$195.00 to C$228.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 10.07% from the stock’s previous close.

A number of other research firms have also recently commented on TIH. Canaccord Genuity Group lifted their price target on shares of Toromont Industries from C$172.00 to C$200.00 in a research note on Friday. Canadian Imperial Bank of Commerce increased their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Royal Bank Of Canada boosted their price target on Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Scotiabank raised their price target on Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Finally, National Bank Financial raised their price target on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$194.50.

Toromont Industries Trading Up 1.1%

TSE TIH traded up C$2.22 during trading on Tuesday, hitting C$207.15. The company had a trading volume of 216,963 shares, compared to its average volume of 218,737. Toromont Industries has a one year low of C$107.32 and a one year high of C$207.86. The company’s fifty day moving average is C$174.09 and its 200-day moving average is C$160.86. 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 market cap of C$16.87 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. The company had revenue of C$1.42 billion during the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. On average, sell-side analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current year.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the completion of the transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. Insiders own 0.27% of the company’s stock.

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.