Toromont Industries (TSE:TIH) Given New C$128.00 Price Target at CIBC

Toromont Industries (TSE:TIH) had its price target hoisted by equities researchers at CIBC from C$127.00 to C$128.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price suggests a potential upside of 14.74% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. National Bankshares lowered their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Raymond James reduced their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Scotiabank reduced their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Toromont Industries has an average rating of “Hold” and an average price target of C$135.00.

Toromont Industries Stock Down 0.1 %

Shares of TSE:TIH opened at C$111.56 on Thursday. The company has a market cap of C$9.14 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 3.72 and a beta of 0.68. The firm’s 50-day simple moving average is C$121.65 and its 200-day simple moving average is C$122.59. 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 has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 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.