Toromont Industries Ltd. (TSE:TIH) Receives C$137.13 Average Price Target from Analysts

Toromont Industries Ltd. (TSE:TIH) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$138.00.

TIH has been the subject of several research analyst reports. TD Securities raised their price objective on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. National Bank Financial cut Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday. National Bankshares downgraded Toromont Industries from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. Royal Bank of Canada increased their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets lifted their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th.

Insider Transactions at Toromont Industries

In related news, Director Peter James Blake bought 300 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director Peter James Blake bought 300 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of C$122.53 per share, with a total value of C$36,758.01. Insiders have sold a total of 5,500 shares of company stock worth $677,864 in the last three months. Company insiders own 0.27% of the company’s stock.

Toromont Industries Price Performance

The firm has a market capitalization of C$10.43 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53. The business’s fifty day simple moving average is C$127.01 and its two-hundred day simple moving average is C$125.01. 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 released its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping 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 the consensus estimate of C$1.19 billion. Equities research analysts expect that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of ∞. The ex-dividend date was Friday, September 6th. Toromont Industries’s payout ratio is 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.