Toromont Industries (TSE:TIH) Sets New 1-Year High at $131.98

Toromont Industries Ltd. (TSE:TIHGet Free Report)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$131.98 and last traded at C$130.72, with a volume of 6003 shares traded. The stock had previously closed at C$130.35.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Securities upped their price target on Toromont Industries from C$130.00 to C$140.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Raymond James boosted their price objective on Toromont Industries from C$125.00 to C$135.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. BMO Capital Markets boosted their price objective on Toromont Industries from C$124.00 to C$130.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Canaccord Genuity Group upped their price target on Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Scotiabank upped their price target on Toromont Industries from C$125.00 to C$133.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and an average price target of C$135.38.

View Our Latest Analysis on Toromont Industries

Toromont Industries Trading Down 0.9 %

The business has a 50 day moving average of C$124.07 and a two-hundred day moving average of C$116.28. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41. The firm has a market cap of C$10.64 billion, a P/E ratio of 20.27, a PEG ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIHGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$1.73 by C$0.13. The firm had revenue of C$1.23 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. Analysts predict that Toromont Industries Ltd. will post 6.3092933 earnings per share for the current year.

Toromont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.48 per share. This is a boost from Toromont Industries’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, March 7th. This represents a $1.92 annualized dividend and a yield of 1.48%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.09%.

Insiders Place Their Bets

In other news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. In other news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. Also, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Insiders have sold 21,700 shares of company stock worth $2,727,180 in the last 90 days. Company insiders own 0.27% 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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