Toromont Industries (TSE:TIH) Stock Price Crosses Above Two Hundred Day Moving Average of $124.69

Shares of Toromont Industries Ltd. (TSE:TIH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$124.69 and traded as high as C$132.10. Toromont Industries shares last traded at C$132.02, with a volume of 80,063 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TIH shares. Royal Bank of Canada increased their price target on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. TD Securities increased their target price on 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. National Bankshares raised their price target on Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. BMO Capital Markets upped their price objective on shares of Toromont Industries from C$133.00 to C$136.00 in a research note on Wednesday, July 24th. Finally, Scotiabank set a C$136.00 target price on shares of Toromont Industries and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$137.13.

Toromont Industries Stock Up 1.0 %

The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The firm has a market capitalization of C$10.81 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 3.72 and a beta of 0.67. The firm has a 50 day moving average price of C$124.86 and a two-hundred day moving average price of C$124.69.

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 net margin of 10.86% and a return on equity of 19.65%. The firm had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. On average, equities analysts expect that Toromont Industries Ltd. will post 6.5845 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.45%. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Director Peter James Blake acquired 300 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of C$122.53 per share, for a total transaction of C$36,758.01. In the last three months, insiders sold 5,500 shares of company stock worth $677,864. Corporate 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.