Toromont Industries (TSE:TIH) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Toromont Industries Ltd. (TSE:TIH) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$124.97 and traded as high as C$133.82. Toromont Industries shares last traded at C$132.32, with a volume of 102,430 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TIH shares. National Bankshares upped their price target on shares of Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Scotiabank set a C$136.00 target price on Toromont Industries and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. TD Securities lifted their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets increased their price objective on Toromont Industries from C$133.00 to C$136.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada upped their target price on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$137.13.

Toromont Industries Stock Down 0.5 %

The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The business has a 50 day simple moving average of C$126.10 and a 200-day simple moving average of C$124.97. The firm has a market capitalization of C$10.84 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.53 by C$0.11. The firm had revenue of C$1.36 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. On average, equities analysts expect that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, September 6th. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insiders Place Their Bets

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. In related news, Director Peter James Blake acquired 300 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of C$122.53 per share, with a total value of C$36,758.01. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Insiders sold a total of 5,500 shares of company stock valued at $677,864 over the last quarter. 0.27% of the stock is owned by 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.