Toromont Industries Ltd (TIH) Receives Average Recommendation of “Hold” from Analysts
Shares of Toromont Industries Ltd (TSE:TIH) have been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the stock. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$39.88.
A number of research analysts have recently weighed in on TIH shares. Canaccord Genuity downgraded shares of Toromont Industries from a “buy” rating to a “hold” rating and raised their price target for the company from C$41.00 to C$42.00 in a report on Friday, July 22nd. CIBC raised their price target on shares of Toromont Industries from C$37.00 to C$39.00 in a report on Thursday, July 28th. TD Securities raised their price target on shares of Toromont Industries from C$37.00 to C$40.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Raymond James Financial Inc. cut their price target on shares of Toromont Industries from C$40.50 to C$40.00 in a report on Thursday, July 28th. Finally, Scotiabank restated a “sector perform” rating and set a C$38.50 price target on shares of Toromont Industries in a report on Tuesday, November 8th.
Toromont Industries (TSE:TIH) opened at 40.07 on Wednesday. Toromont Industries has a 12 month low of $27.25 and a 12 month high of $40.93. The stock’s 50 day moving average is $39.81 and its 200 day moving average is $38.71. The company has a market cap of $3.12 billion and a PE ratio of 20.34.
Toromont Industries Company Profile
Toromont Industries Ltd. is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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