Toromont Industries Ltd. (TSE:TIH) Receives C$198.63 Average Price Target from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$198.63.

A number of research firms have recently issued reports on TIH. Scotiabank upped their price target on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their target price on Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. TD Securities lifted their price target on Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada boosted their price target on shares of Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Finally, BMO Capital Markets raised their price objective on shares of Toromont Industries from C$196.00 to C$210.00 in a research report on Thursday, February 12th.

Toromont Industries Price Performance

Toromont Industries stock opened at C$207.06 on Monday. The company has a fifty day simple moving average of C$184.23 and a 200-day simple moving average of C$166.18. The firm has a market capitalization of C$16.87 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 3.72 and a beta of 0.52. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$215.58.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 earnings per share (EPS) for the quarter. The company had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. On average, equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, March 6th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s payout ratio is 34.27%.

Insider Activity at Toromont Industries

In related news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was 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 directly owned 12,012 shares in the company, valued at approximately 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.