Toromont Industries Ltd. (TSE:TIH) Director Benjamin David Cherniavsky Buys 500 Shares

Toromont Industries Ltd. (TSE:TIH) Director Benjamin David Cherniavsky acquired 500 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was bought at an average price of C$112.30 per share, with a total value of C$56,150.00.

Toromont Industries Stock Performance

TIH stock traded up C$1.10 during mid-day trading on Monday, hitting C$113.51. 12,825 shares of the company were exchanged, compared to its average volume of 118,509. The business has a 50 day simple moving average of C$110.98 and a 200-day simple moving average of C$108.91. The company has a current ratio of 2.68, a quick ratio of 1.38 and a debt-to-equity ratio of 27.07. The stock has a market capitalization of C$9.33 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.77. Toromont Industries Ltd. has a 1-year low of C$94.76 and a 1-year high of C$117.13.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Wednesday, July 26th. The company reported C$1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.35 by C$0.26. Toromont Industries had a net margin of 11.38% and a return on equity of 22.59%. The firm had revenue of C$1.17 billion during the quarter, compared to the consensus estimate of C$1.16 billion. On average, equities analysts forecast that Toromont Industries Ltd. will post 5.8786251 earnings per share for the current year.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 1.52%. Toromont Industries’s dividend payout ratio is presently 27.92%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TIH. Raymond James raised their target price on shares of Toromont Industries from C$125.00 to C$130.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Royal Bank of Canada cut their target price on shares of Toromont Industries from C$133.00 to C$131.00 and set an “outperform” rating for the company in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$125.86.

About Toromont Industries

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.