Toromont Industries (TSE:TIH) Stock Price Crosses Above 200-Day Moving Average of $102.14

Shares of Toromont Industries Ltd. (TSE:TIHGet Rating) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$102.14 and traded as high as C$103.62. Toromont Industries shares last traded at C$103.08, with a volume of 81,272 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TIH shares. National Bankshares raised Toromont Industries to a “buy” rating and set a C$110.00 price objective on the stock in a research report on Wednesday, January 11th. CIBC lifted their target price on Toromont Industries from C$107.00 to C$111.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. National Bank Financial upgraded Toromont Industries from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Tuesday, January 10th. BMO Capital Markets cut Toromont Industries from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$120.00 to C$112.00 in a research report on Wednesday, November 9th. Finally, Scotiabank boosted their price objective on Toromont Industries from C$114.00 to C$116.00 in a research report on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$119.00.

Toromont Industries Trading Up 1.4 %

The company has a market cap of C$8.48 billion and a PE ratio of 21.43. The company has a current ratio of 2.41, a quick ratio of 1.38 and a debt-to-equity ratio of 30.14. The company has a fifty day simple moving average of C$101.29 and a two-hundred day simple moving average of C$102.14.

Toromont Industries (TSE:TIHGet Rating) last announced its earnings results on Tuesday, November 1st. The company reported C$1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.33 by C$0.16. The firm had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$1.08 billion. Analysts anticipate that Toromont Industries Ltd. will post 5.0900001 EPS for the current year.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, January 5th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Wednesday, December 7th. Toromont Industries’s dividend payout ratio (DPR) is 31.60%.

Insider Activity at Toromont Industries

In related news, Director Scott Medhurst sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of C$104.00, for a total value of C$520,000.00. Following the completion of the transaction, the director now directly owns 183,529 shares of the company’s stock, valued at approximately C$19,087,016. In related news, Director David Allan Malinauskas sold 900 shares of Toromont Industries stock in a transaction on Friday, November 4th. The stock was sold at an average price of C$103.10, for a total value of C$92,790.00. Following the transaction, the director now owns 3,273 shares in the company, valued at C$337,446.30. Also, Director Scott Medhurst sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of C$104.00, for a total value of C$520,000.00. Following the transaction, the director now owns 183,529 shares in the company, valued at approximately C$19,087,016. Insiders sold 11,800 shares of company stock valued at $1,215,895 in the last ninety days.

Toromont Industries Company Profile

(Get Rating)

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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