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

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$136.06.

A number of research firms recently weighed in on TIH. National Bankshares upped their price objective on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Scotiabank upped their price objective on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group upped their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. CIBC upped their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th.

Insider Buying and Selling at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction of C$575,000.00. Over the last ninety days, insiders sold 10,200 shares of company stock valued at $1,204,504. 0.27% of the stock is currently owned by insiders.

Toromont Industries Trading Down 1.0 %

TSE TIH opened at C$114.84 on Monday. The company’s 50-day moving average price is C$118.32 and its 200-day moving average price is C$120.07. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The stock has a market cap of C$9.37 billion, a PE ratio of 18.65, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53.

Toromont Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.81%. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 7th. Toromont Industries’s dividend payout ratio is presently 31.18%.

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.