Scotiabank Cuts Toromont Industries (TSE:TIH) Price Target to C$125.00

Toromont Industries (TSE:TIH) had its price objective decreased by analysts at Scotiabank from C$133.00 to C$125.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 2.22% from the company’s current price.

A number of other equities research analysts also recently weighed in on TIH. CIBC cut their target price on Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating for the company in a research report on Friday. Canaccord Genuity Group increased their price objective on Toromont Industries from C$123.00 to C$138.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Raymond James cut their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research report on Friday. BMO Capital Markets increased their price objective on Toromont Industries from C$124.00 to C$130.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada cut their price objective on Toromont Industries from C$140.00 to C$137.00 and set an “outperform” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$132.75.

Toromont Industries Stock Performance

TIH stock traded down C$0.43 on Friday, reaching C$122.28. The company’s stock had a trading volume of 114,517 shares, compared to its average volume of 98,623. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The company has a market capitalization of C$10.06 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The firm has a fifty day moving average of C$128.32 and a two-hundred day moving average of C$119.24. The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. As a group, analysts predict that Toromont Industries will post 6.3025012 EPS for the current fiscal year.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total transaction of C$384,000.00. In other news, Director David Allan Malinauskas sold 8,700 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. Over the last ninety days, insiders have sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is owned by insiders.

About Toromont Industries

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.