Toromont Industries (TSE:TIH) Price Target Lowered to C$128.00 at CIBC

Toromont Industries (TSE:TIH) had its price objective lowered by CIBC from C$130.00 to C$128.00 in a research report released on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the company. TD Securities reduced their price target on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research report on Friday. Canaccord Genuity Group upped their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a report on Thursday, February 15th. Scotiabank raised their target price on shares of 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. National Bankshares reduced their price target on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a research note on Friday. Finally, Raymond James decreased their price objective on shares of Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a report on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of C$132.75.

Toromont Industries Trading Down 0.4 %

Toromont Industries stock opened at C$122.28 on Friday. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The firm has a market capitalization 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 firm has a 50-day moving average price of C$128.32 and a two-hundred day moving average price of C$119.24.

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

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 7th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.09%.

Insider Buying and Selling

In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$125.00, for a total transaction of C$375,000.00. In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total value of C$375,000.00. Also, Director William John Harvey sold 300 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total transaction of C$37,770.00. Insiders have sold 21,700 shares of company stock worth $2,727,180 in the last three months. 0.27% of the stock is currently owned by insiders.

About Toromont Industries

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.