Toromont Industries Ltd (TSE:TIH) had its price target lifted by investment analysts at National Bank Financial from C$60.00 to C$63.00 in a report released on Thursday, November 9th. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price target suggests a potential upside of 10.74% from the company’s current price. National Bank Financial also issued estimates for Toromont Industries’ Q4 2017 earnings at $0.66 EPS, FY2017 earnings at $2.14 EPS and FY2018 earnings at $2.86 EPS.
Several other research analysts have also recently issued reports on the stock. Raymond James Financial, Inc. raised their target price on shares of Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a report on Tuesday, August 29th. TD Securities raised shares of Toromont Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from C$48.00 to C$65.00 in a report on Wednesday, September 20th. Scotiabank reissued a “sector perform” rating and set a C$48.50 target price on shares of Toromont Industries in a report on Wednesday, July 26th. Canaccord Genuity raised their target price on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, BMO Capital Markets reissued a “market perform” rating and set a C$58.00 target price on shares of Toromont Industries in a report on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$57.63.
Toromont Industries (TSE TIH) opened at C$56.89 on Thursday. Toromont Industries has a fifty-two week low of C$41.10 and a fifty-two week high of C$58.44.
In other news, insider Paul Randolph Jewer sold 500 shares of Toromont Industries stock in a transaction dated Friday, September 8th. The shares were sold at an average price of C$52.90, for a total value of C$26,450.00. Also, Director Scott Medhurst sold 4,848 shares of Toromont Industries stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of C$52.50, for a total transaction of C$254,520.00. In the last 90 days, insiders have sold 35,348 shares of company stock worth $1,936,950.
Toromont Industries Company Profile
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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