Toromont Industries Ltd. (TSE:TIH) Receives C$135.38 Average PT from Brokerages

Toromont Industries Ltd. (TSE:TIH) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$135.38.

TIH has been the topic of several recent research reports. Canaccord Genuity Group lifted their price target on shares of 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. TD Securities lifted their price target on Toromont Industries from C$130.00 to C$140.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. National Bankshares set a C$137.00 price objective on shares of Toromont Industries and gave the company an “outperform” rating in a research note on Thursday, February 15th. CIBC lifted their target price on shares of Toromont Industries from C$123.00 to C$130.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Scotiabank upped their price target on shares of Toromont Industries from C$125.00 to C$133.00 and gave the company a “sector perform” rating in a research report on Thursday, February 15th.

Insiders Place Their Bets

In other Toromont Industries news, Director William John Harvey sold 300 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total transaction of C$37,770.00. In related news, Director William John Harvey sold 300 shares of Toromont Industries stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total transaction of C$37,770.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total transaction of C$384,000.00. In the last quarter, insiders sold 21,700 shares of company stock worth $2,727,180. 0.27% of the stock is currently owned by company insiders.

Toromont Industries Trading Up 0.2 %

TSE:TIH opened at C$129.50 on Friday. Toromont Industries has a 12-month low of C$100.81 and a 12-month high of C$135.53. The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38. The business has a 50 day simple moving average of C$128.37 and a 200 day simple moving average of C$118.85. The firm has a market capitalization of C$10.66 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. The company had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. Equities research analysts predict that Toromont Industries will post 6.3025012 EPS for the current year.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.48 per share. This is an increase from Toromont Industries’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, March 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.48%. Toromont Industries’s payout ratio is presently 30.09%.

Toromont Industries Company Profile

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.