Toromont Industries (TSE:TIH) Downgraded by National Bankshares to “Sector Perform”

National Bankshares lowered shares of Toromont Industries (TSE:TIH) from an outperform rating to a sector perform rating in a report published on Tuesday, BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the stock. Scotiabank set a C$136.00 price target on shares of Toromont Industries and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada upped 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 report on Thursday, August 1st. BMO Capital Markets raised their price target on Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Finally, TD Securities upped their price objective on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$138.00.

Toromont Industries Stock Down 4.1 %

TSE TIH opened at C$129.14 on Tuesday. The stock has a market capitalization of C$10.58 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. 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 stock has a fifty day moving average of C$126.89 and a 200-day moving average of C$125.03.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The firm had revenue of C$1.36 billion during the quarter, compared to analyst estimates of C$1.19 billion. On average, equities research analysts forecast 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 issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.92 annualized dividend and a dividend yield of 1.49%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.62%.

Insider Activity

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of C$123.00, for a total transaction of C$123,000.00. In other news, Director Peter James Blake purchased 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. Also, Senior Officer Jennifer Cochrane sold 1,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of C$123.00, for a total value of C$123,000.00. Insiders have sold 5,500 shares of company stock worth $677,864 in the last 90 days. Corporate 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.