Brokerages Set Toromont Industries Ltd. (TSE:TIH) Target Price at C$172.88

Shares of Toromont Industries Ltd. (TSE:TIH) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$172.88.

Several research analysts recently weighed in on the company. Canaccord Genuity Group increased their target price on Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Royal Bank Of Canada upped their price target on Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. National Bankshares boosted their target price on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Raymond James Financial raised their price target on shares of Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Finally, CIBC boosted their price objective on shares of Toromont Industries from C$168.00 to C$172.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd.

Toromont Industries Price Performance

Shares of TIH opened at C$166.13 on Wednesday. The stock has a market cap of C$13.52 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 3.72 and a beta of 0.62. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$168.56. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a fifty day moving average price of C$162.17 and a 200 day moving average price of C$146.84.

Toromont Industries (TSE:TIH) last released its earnings results on Thursday, October 30th. The company reported C$1.72 earnings per share (EPS) for the quarter. The firm had revenue of C$1.31 billion during the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. As a group, sell-side analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, January 5th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.08 annualized dividend and a yield of 1.3%. Toromont Industries’s dividend payout ratio (DPR) is 33.72%.

Insider Buying and Selling at Toromont Industries

In other news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the completion of the sale, the insider owned 12,012 shares in the company, valued at approximately C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by 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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.