Toromont Industries (TSE:TIH) Price Target Cut to C$137.00 by Analysts at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its price objective trimmed by Royal Bank of Canada from C$140.00 to C$137.00 in a report released on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

TIH has been the topic of a number of other reports. Raymond James raised their price objective on shares of Toromont Industries from C$125.00 to C$135.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Canaccord Genuity Group lifted their price target on Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a research note on Thursday, February 15th. CIBC upped their price objective on 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. TD Securities decreased their price objective on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a report on Friday. Finally, Scotiabank boosted their target price on Toromont Industries from C$125.00 to C$133.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of C$132.75.

Toromont Industries Stock Down 0.4 %

TSE:TIH opened at C$122.28 on Friday. Toromont Industries has a 1 year low of C$100.81 and a 1 year high of C$135.53. The stock has a 50-day moving average price of C$128.32 and a two-hundred day moving average price of C$119.24. The stock has a market cap of C$10.06 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion during 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%. As a group, equities analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current year.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a $0.48 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. Toromont Industries’s dividend payout ratio is 30.09%.

Insiders Place Their Bets

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction on 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 related news, 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 value of C$384,000.00. Also, Director William John Harvey sold 300 shares of Toromont Industries stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. Insiders have sold 21,700 shares of company stock valued at $2,727,180 in the last 90 days. 0.27% of the stock is currently owned by insiders.

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.