Toromont Industries Ltd (TSE:TIH) had its price objective hoisted by equities researchers at Raymond James Financial, Inc. from C$55.00 to C$58.50 in a note issued to investors on Tuesday. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial, Inc.’s target price would suggest a potential upside of 7.32% from the stock’s current price.

A number of other research analysts have also recently commented on TIH. TD Securities raised their target price on Toromont Industries from C$47.00 to C$48.00 and gave the company a “hold” rating in a research note on Thursday, July 27th. Scotiabank restated a “sector perform” rating and issued a C$48.50 target price on shares of Toromont Industries in a research note on Wednesday, July 26th. National Bank Financial upgraded Toromont Industries from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$46.00 to C$52.00 in a research note on Thursday, June 1st. Finally, Canaccord Genuity raised their target price on Toromont Industries from C$43.00 to C$50.00 and gave the company a “hold” rating in a research note on Tuesday, May 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Toromont Industries currently has an average rating of “Buy” and an average target price of C$52.50.

Toromont Industries (TSE TIH) opened at 54.51 on Tuesday. The firm has a market capitalization of $4.28 billion and a P/E ratio of 26.88. The company has a 50 day moving average price of $45.98 and a 200 day moving average price of $46.38. Toromont Industries has a 52-week low of $37.59 and a 52-week high of $56.00.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, July 25th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.04. The firm had revenue of $530.93 million during the quarter, compared to analysts’ expectations of $550.60 million. Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. On average, equities analysts forecast that Toromont Industries will post $2.11 EPS for the current fiscal year.

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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 is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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