Toromont Industries (TSE:TIH) PT Lowered to C$137.00

Toromont Industries (TSE:TIH) had its target price lowered by Royal Bank of Canada from C$140.00 to C$137.00 in a report published on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently commented on TIH. Raymond James lifted their price target on shares of Toromont Industries from C$125.00 to C$135.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Canaccord Genuity Group boosted their price target on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a research note on Thursday, February 15th. CIBC upped their price target on shares of Toromont Industries from C$123.00 to C$130.00 and gave the company a neutral rating in a research report on Thursday, February 15th. BMO Capital Markets lifted their price objective on Toromont Industries from C$124.00 to C$130.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Finally, TD Securities dropped their target price on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Toromont Industries presently has a consensus rating of Moderate Buy and an average target price of C$133.13.

Toromont Industries Stock Performance

Toromont Industries stock opened at C$123.64 on Friday. The firm’s 50 day simple moving average is C$128.24 and its 200 day simple moving average is C$119.52. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The firm has a market capitalization of C$10.18 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72.

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

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, June 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.55%. Toromont Industries’s dividend payout ratio (DPR) is 30.09%.

Insider Transactions at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the business’s 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. Also, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Insiders have sold a total of 21,700 shares of company stock worth $2,727,180 in the last three months. 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.