Toromont Industries (TSE:TIH) Lowered to Hold at National Bank Financial

National Bank Financial lowered shares of Toromont Industries (TSE:TIH) from a strong-buy rating to a hold rating in a research report report published on Monday, Zacks.com reports.

Several other brokerages have also recently weighed in on TIH. National Bankshares cut shares of Toromont Industries from an “outperform” rating to a “sector perform” rating in a report on Tuesday. Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the company a “sector perform” rating in a report on Wednesday, August 21st. TD Securities boosted their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets increased their target price on Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price target on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$138.00.

Toromont Industries Price Performance

Toromont Industries has a 12 month low of C$100.81 and a 12 month high of C$135.53. The stock has a 50 day simple moving average of C$127.01 and a two-hundred day simple moving average of C$125.01. 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$10.43 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of C$1.19 billion. On average, analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend was Friday, September 6th. Toromont Industries’s payout ratio is currently 30.62%.

Insider Activity

In other news, Senior Officer Jennifer Cochrane sold 1,400 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of Toromont Industries stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders have sold 5,500 shares of company stock valued at $677,864 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

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.