Toromont Industries Ltd. (TSE:TIH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$129.63.

Several research analysts recently issued reports on TIH shares. Scotiabank reduced their target price on Toromont Industries from C$133.50 to C$128.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada raised their target price on Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets dropped their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. National Bankshares raised their price objective on Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group dropped their target price on shares of Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd.

Insider Buying and Selling at Toromont Industries

In other news, Director Frederick James Mifflin purchased 500 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of C$110.05 per share, with a total value of C$55,025.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00. In the last three months, insiders have sold 15,650 shares of company stock valued at $1,817,192. 0.27% of the stock is owned by company insiders.

Toromont Industries Trading Down 0.2%

TSE:TIH opened at C$119.95 on Friday. The firm has a market cap of C$9.78 billion, a P/E ratio of 19.48, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$107.32 and a one year high of C$134.88. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a 50-day simple moving average of C$114.47 and a 200-day simple moving average of C$115.72.

Toromont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Friday, June 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 31.18%.

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.