Toromont Industries (TSE:TIH) Upgraded by National Bank Financial to “Strong-Buy” Rating

National Bank Financial upgraded shares of Toromont Industries (TSE:TIH) from a hold rating to a strong-buy rating in a report published on Sunday, MarketBeat reports.

Several other research firms have also commented on TIH. Royal Bank of Canada cut their price objective on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Scotiabank cut their price objective on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. BMO Capital Markets cut their price objective on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday, November 6th. National Bankshares cut their price objective on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Finally, Raymond James cut their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$135.00.

Toromont Industries Stock Performance

TSE TIH opened at C$112.30 on Friday. The stock has a market capitalization of C$9.20 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. 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 stock has a 50-day moving average of C$120.92 and a 200 day moving average of C$122.46.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, January 6th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.71%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insider Activity

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