Raymond James Financial Raises Toromont Industries (TSE:TIH) Price Target to C$150.00

Toromont Industries (TSE:TIH) had its price target boosted by equities researchers at Raymond James Financial from C$125.00 to C$150.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James Financial’s price objective would indicate a potential downside of 9.80% from the company’s current price.

A number of other equities research analysts also recently commented on the company. CIBC lifted their target price on Toromont Industries from C$148.00 to C$168.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Scotiabank boosted their price objective on Toromont Industries from C$140.00 to C$171.00 in a report on Friday, October 17th. National Bankshares boosted their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets boosted their price objective on Toromont Industries to C$178.00 in a report on Friday. Finally, TD Securities boosted their price objective on Toromont Industries from C$154.00 to C$179.00 in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of C$172.88.

Toromont Industries Trading Down 1.3%

TSE:TIH traded down C$2.21 on Monday, reaching C$166.30. The company’s stock had a trading volume of 150,551 shares, compared to its average volume of 150,086. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$168.56. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The firm has a market cap of C$13.53 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 3.72 and a beta of 0.64. The stock has a 50 day moving average price of C$152.86 and a 200 day moving average price of C$134.62.

Insider Activity

In other Toromont Industries news, insider Mike Cuddy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the sale, the insider owned 36,955 shares in the company, valued at C$5,395,430. This represents a 16.87% decrease in their position. Also, Director David Allan Malinauskas sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total value of C$876,600.00. 0.27% of the stock is owned by corporate insiders.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.