Stifel Nicolaus Analysts Give Toromont Industries (TSE:TIH) a C$250.00 Price Target

Stifel Nicolaus set a C$250.00 price objective on Toromont Industries (TSE:TIH) in a research note issued to investors on Wednesday morning,BayStreet reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on TIH. Raymond James Financial lifted their target price on Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Canaccord Genuity Group raised their price target on Toromont Industries from C$240.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lifted their price objective on Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th. Scotiabank upgraded shares of Toromont Industries from a “hold” rating to an “outperform” rating and increased their target price for the stock from C$238.00 to C$239.00 in a report on Thursday, July 30th. Finally, BMO Capital Markets raised 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 research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$247.20.

Toromont Industries Stock Performance

Toromont Industries stock opened at C$236.69 on Wednesday. The company has a 50 day moving average price of C$211.23 and a 200-day moving average price of C$214.51. The company has a debt-to-equity ratio of 24.76, a quick ratio of 1.38 and a current ratio of 2.73. Toromont Industries has a fifty-two week low of C$153.50 and a fifty-two week high of C$243.50. The company has a market capitalization of C$19.31 billion, a PE ratio of 37.69, a P/E/G ratio of 3.72 and a beta of 0.94.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) 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. As a group, equities analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Toromont Industries’s dividend payout ratio (DPR) is presently 34.39%.

About Toromont Industries

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.