Toromont Industries Ltd (TIH) Price Target Raised to C$63.00
Toromont Industries Ltd (TSE:TIH) had its price target raised by National Bank Financial from C$60.00 to C$63.00 in a report issued on Thursday morning. The firm currently has a sector perform rating on the stock. National Bank Financial also issued estimates for Toromont Industries’ Q4 2017 earnings at $0.66 EPS, FY2017 earnings at $2.14 EPS and FY2018 earnings at $2.86 EPS.
Other equities research analysts also recently issued reports about the company. Raymond James Financial, Inc. increased their price target on Toromont Industries from C$58.50 to C$63.00 and gave the stock an outperform rating in a report on Thursday. Scotiabank increased their price target on Toromont Industries from C$53.00 to C$59.00 and gave the stock a sector perform rating in a report on Thursday. Canaccord Genuity increased their price target on Toromont Industries from C$50.00 to C$58.00 and gave the stock a buy rating in a report on Tuesday, August 29th. TD Securities upgraded Toromont Industries from a hold rating to a buy rating and increased their price target for the stock from C$48.00 to C$65.00 in a report on Wednesday, September 20th. Finally, BMO Capital Markets restated a market perform rating and issued a C$58.00 price target on shares of Toromont Industries in a report on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of C$57.63.
Shares of Toromont Industries (TSE:TIH) opened at C$56.34 on Thursday. Toromont Industries has a fifty-two week low of C$39.71 and a fifty-two week high of C$58.44.
In related news, insider David Allan Malinauskas sold 1,600 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of C$53.50, for a total transaction of C$85,600.00. Also, insider Paul Randolph Jewer sold 500 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of C$52.90, for a total value of C$26,450.00. Insiders have sold 35,348 shares of company stock valued at $1,936,950 over the last ninety days.
About Toromont Industries
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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