Toromont Industries Ltd. (TSE:TIH) Given Average Recommendation of “Moderate Buy” by Brokerages

Toromont Industries Ltd. (TSE:TIH) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$135.00.

TIH has been the topic of several analyst reports. National Bankshares decreased their price objective on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Scotiabank cut their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Royal Bank of Canada lowered their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Finally, CIBC increased their price target on shares of Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th.

Toromont Industries Stock Performance

Shares of TIH opened at C$113.64 on Wednesday. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53. The company’s 50 day simple moving average is C$116.90 and its 200 day simple moving average is C$122.01. The company has a market capitalization of C$9.31 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64.

Toromont Industries Announces Dividend

The business also recently announced 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. This represents a $1.92 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, December 6th. Toromont Industries’s payout ratio is 30.62%.

Insider Activity at Toromont Industries

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price 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.

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.