Toromont Industries (TSE:TIH) Reaches New 52-Week High – Still a Buy?

Toromont Industries Ltd. (TSE:TIH)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$226.00 and last traded at C$225.74, with a volume of 27454 shares. The stock had previously closed at C$222.66.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on Toromont Industries from C$207.00 to C$234.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Scotiabank lifted their target price on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Raymond James Financial upped their target price on Toromont Industries from C$180.00 to C$190.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. National Bank Financial upped their target price on Toromont Industries from C$214.00 to C$216.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, 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. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Toromont Industries presently has an average rating of “Moderate Buy” and a consensus target price of C$216.44.

Toromont Industries Trading Up 1.4%

The stock has a market capitalization of C$18.41 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 3.72 and a beta of 0.96. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19. The company has a 50-day moving average price of C$207.01 and a 200 day moving average price of C$187.30.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. The firm had revenue of C$1.23 billion during the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%. On average, research analysts forecast that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were paid a dividend of $0.56 per share. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, March 6th. This represents a $2.24 annualized dividend and a yield of 1.0%. Toromont Industries’s dividend payout ratio (DPR) is presently 33.70%.

Insiders Place Their Bets

In related news, Director David Allan Malinauskas sold 972 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total transaction of C$195,955.20. 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.