Toromont Industries (TSE:TIH) Price Target Increased to C$133.00 by Analysts at BMO Capital Markets

Toromont Industries (TSE:TIH) had its target price boosted by BMO Capital Markets from C$130.00 to C$133.00 in a research note issued to investors on Monday, BayStreet.CA reports.

Several other research firms have also recently issued reports on TIH. Royal Bank of Canada decreased their price objective on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating for the company in a report on Friday. TD Securities lowered their price target on Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research report on Friday. Scotiabank cut their price objective on Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating for the company in a report on Friday. Raymond James decreased their target price on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a research note on Friday. Finally, CIBC dropped their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set a neutral rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of C$133.13.

Toromont Industries Stock Performance

TIH opened at C$123.64 on Monday. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53. 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 stock has a market cap of C$10.18 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The business’s 50 day moving average is C$128.24 and its 200-day moving average is C$119.52.

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

Toromont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be given a $0.48 dividend. 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 1.55%. Toromont Industries’s dividend payout ratio (DPR) is 30.09%.

Insider Buying and Selling

In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other news, 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. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction 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. In the last quarter, insiders have sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is owned by corporate 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.