BMO Capital Markets Boosts Toromont Industries (TSE:TIH) Price Target to C$133.00

Toromont Industries (TSE:TIH) had its target price hoisted by BMO Capital Markets from C$130.00 to C$133.00 in a research note issued to investors on Monday morning, BayStreet.CA reports.

A number of other analysts also recently commented on TIH. Scotiabank lowered their target price on Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada dropped their price target on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating on the stock in a research report on Friday, May 3rd. TD Securities decreased their price objective on shares of Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research report on Friday, May 3rd. National Bankshares reduced their price target on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, Raymond James reduced their target price on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a research note on Friday, May 3rd. 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.com, the company has a consensus rating of Moderate Buy and a consensus target price of C$133.13.

Toromont Industries Price Performance

Shares of TIH stock opened at C$124.31 on Monday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41. The stock has a market capitalization of C$10.23 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 3.72 and a beta of 0.72. The stock has a fifty day simple moving average of C$128.13 and a two-hundred day simple moving average of C$119.71. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results 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 analysts’ expectations of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. On average, analysts predict that Toromont Industries will post 6.3025012 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, June 6th. Toromont Industries’s dividend payout ratio (DPR) is 30.09%.

Insider Buying and Selling

In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction that occurred 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 Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value 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 shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. In the last 90 days, insiders have sold 21,700 shares of company stock valued at $2,727,180. Corporate 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.