Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Toromont Industries (TSE:TIH) had its target price increased by Canaccord Genuity Group from C$130.00 to C$134.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 10.65% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. National Bankshares cut their price objective on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday. CIBC increased their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday. Raymond James boosted their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Scotiabank reduced their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Stock Performance

Shares of Toromont Industries stock opened at C$121.10 on Thursday. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The company has a market capitalization of C$9.88 billion, a PE ratio of 19.67, a PEG ratio of 3.72 and a beta of 0.68. The stock’s fifty day simple moving average is C$115.54 and its 200 day simple moving average is C$121.11.

Insider Transactions at Toromont Industries

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of C$111.45 per share, with a total value of C$501,525.00. Company insiders own 0.27% of the company’s stock.

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.