Toromont Industries Ltd. (TSE:TIH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$137.13.

TIH has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. Scotiabank set a C$136.00 price objective on Toromont Industries and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. National Bankshares raised their target price on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. TD Securities upped their price target on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st.

Toromont Industries Stock Down 0.5 %

TIH opened at C$129.81 on Monday. The company has a market capitalization of C$10.63 billion, a P/E ratio of 20.70, a P/E/G ratio of 3.72 and a beta of 0.67. The firm’s fifty day moving average price is C$124.25 and its two-hundred day moving average price is C$124.44. Toromont Industries has a fifty-two week low of C$100.81 and a fifty-two week high of C$135.53. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The firm had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, September 6th. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Buying and Selling at Toromont Industries

In related news, Director Peter James Blake acquired 300 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of C$122.53 per share, with a total value of C$36,758.01. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of C$123.00, for a total value of C$123,000.00. Also, Director Peter James Blake purchased 300 shares of Toromont Industries stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. In the last 90 days, insiders sold 5,500 shares of company stock worth $677,864. 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.