Scotiabank Cuts Toromont Industries (TSE:TIH) Price Target to C$132.00

Toromont Industries (TSE:TIH) had its target price reduced by Scotiabank from C$136.00 to C$132.00 in a report issued on Wednesday,BayStreet.CA reports.

A number of other research firms also recently commented on TIH. 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 report on Thursday, August 1st. National Bank Financial downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. National Bankshares dropped their target price on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. BMO Capital Markets lifted their price target on Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Finally, TD Securities boosted their price target on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Toromont Industries presently has a consensus rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Stock Down 0.5 %

TIH opened at C$118.65 on Wednesday. The company has a market cap of C$9.72 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a twelve month low of C$109.50 and a twelve month high of C$135.53. The company has a 50-day moving average price of C$127.07 and a 200 day moving average price of C$124.34. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insiders Place Their Bets

In related news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction 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. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction 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. Also, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. Over the last quarter, insiders have sold 4,500 shares of company stock valued at $554,864. 0.27% of the stock is owned by corporate insiders.

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.