Analysts Set Toromont Industries Ltd. (TSE:TIH) Target Price at C$135.00

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$135.00.

A number of analysts have recently commented on the company. National Bankshares lowered their price target on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. BMO Capital Markets lowered their target price on shares of Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday, November 6th. Royal Bank of Canada cut their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Scotiabank dropped their price objective on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th.

Insider Activity

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. Insiders own 0.27% of the company’s stock.

Toromont Industries Price Performance

The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53. The company has a market capitalization of C$9.11 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.72 and a beta of 0.68. The business’s fifty day moving average price is C$122.06 and its two-hundred day moving average price is C$122.66.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of ∞. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s payout ratio is currently 30.62%.

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.