Toromont Industries (TSE:TIH) Price Target Increased to C$143.00 by Analysts at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price target hoisted by BMO Capital Markets from C$136.00 to C$143.00 in a research note released on Friday morning, BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on the stock. Scotiabank set a C$136.00 target price on shares of Toromont Industries and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. National Bankshares increased their target price on shares of Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their target price on shares of Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, TD Securities increased their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$138.00.

Toromont Industries Stock Up 1.1 %

TIH stock opened at C$133.62 on Friday. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The company has a 50-day moving average of C$126.48 and a two-hundred day moving average of C$125.00. The stock has a market capitalization of C$10.94 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

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

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 6th. Toromont Industries’s dividend payout ratio is 30.62%.

Insiders Place Their Bets

In other Toromont Industries news, Director Peter James Blake purchased 300 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of C$122.53 per share, for a total transaction of C$36,758.01. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s 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. Also, Director Peter James Blake acquired 300 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of C$122.53 per share, with a total value of C$36,758.01. Insiders sold a total of 5,500 shares of company stock worth $677,864 over the last quarter. 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.