Toromont Industries (TSE:TIH) Price Target Cut to C$140.00 by Analysts at TD Securities

Toromont Industries (TSE:TIH) had its price target trimmed by TD Securities from C$145.00 to C$140.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

TIH has been the topic of several other reports. Scotiabank upped their price target on 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. CIBC raised their price target on shares of Toromont Industries from C$123.00 to C$130.00 and gave the company a neutral rating in a report on Thursday, February 15th. Royal Bank of Canada boosted their price target on shares of Toromont Industries from C$125.00 to C$140.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Raymond James increased their price objective on Toromont Industries from C$125.00 to C$135.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Finally, BMO Capital Markets boosted their target price on Toromont Industries from C$124.00 to C$130.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of C$132.75.

Toromont Industries Stock Down 0.4 %

Toromont Industries stock opened at C$122.28 on Friday. The firm has a 50 day simple moving average of C$128.32 and a 200 day simple moving average of C$119.24. 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 has a 1-year low of C$100.81 and a 1-year high of C$135.53. The firm has a market capitalization of C$10.06 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 3.72 and a beta of 0.72.

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

Toromont Industries Dividend Announcement

The company 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 dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, June 7th. Toromont Industries’s dividend payout ratio (DPR) is currently 30.09%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of C$125.10, for a total transaction of C$600,480.00. In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.10, for a total transaction of C$600,480.00. Also, 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 value of C$37,770.00. In the last three months, insiders sold 21,700 shares of company stock worth $2,727,180. 0.27% of the stock is currently owned by corporate 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.