Toromont Industries (TSE:TIH) Reaches New 1-Year High at $119.75

Toromont Industries Ltd. (TSE:TIHGet Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$119.75 and last traded at C$119.48, with a volume of 7918 shares changing hands. The stock had previously closed at C$118.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James lowered their target price on shares of Toromont Industries from C$130.00 to C$125.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Canaccord Genuity Group lowered their price objective on shares of Toromont Industries from C$127.00 to C$123.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Scotiabank lowered shares of Toromont Industries from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$124.00 to C$125.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada decreased their price target on shares of Toromont Industries from C$131.00 to C$125.00 and set an “outperform” rating for the company in a research report on Wednesday, November 1st. Finally, CIBC increased their price target on shares of Toromont Industries from C$116.00 to C$123.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy” and a consensus price target of C$125.50.

View Our Latest Stock Analysis on Toromont Industries

Toromont Industries Trading Up 0.9 %

The company has a current ratio of 2.72, a quick ratio of 1.38 and a debt-to-equity ratio of 25.73. The company has a 50-day simple moving average of C$115.33 and a 200 day simple moving average of C$112.32. The firm has a market cap of C$9.76 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 3.72 and a beta of 0.75.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, January 4th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a yield of 1.45%. Toromont Industries’s payout ratio is currently 26.54%.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Director Scott Medhurst sold 362 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of C$112.31, for a total value of C$40,656.22. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$115.06, for a total value of C$69,036.00. Also, Director Scott Medhurst sold 362 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of C$112.31, for a total value of C$40,656.22. In the last 90 days, insiders have sold 4,371 shares of company stock worth $500,943. Corporate insiders own 0.26% of the company’s stock.

Toromont Industries Company Profile

(Get Free Report)

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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