Toromont Industries (TSE:TIH) Stock Price Expected to Rise, CIBC World Markets Analyst Says

Toromont Industries (TSE:TIH) had its price target upped by equities researchers at CIBC World Markets from C$172.00 to C$180.00 in a research report issued on Saturday,BayStreet.CA reports. CIBC World Markets’ price target suggests a potential downside of 2.55% from the stock’s previous close.

A number of other equities analysts also recently commented on TIH. Raymond James Financial lifted their price objective on Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. BMO Capital Markets raised their target price on Toromont Industries to C$178.00 in a research note on Friday, October 31st. Canaccord Genuity Group boosted their price target on shares of Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Royal Bank Of Canada upped their price objective on shares of Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, National Bankshares lifted their target price on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$176.22.

Toromont Industries Price Performance

Shares of TSE:TIH traded up C$3.52 during midday trading on Friday, hitting C$184.71. The company’s stock had a trading volume of 164,107 shares, compared to its average volume of 197,281. The company has a market cap of C$15.03 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$185.17. The business’s 50 day simple moving average is C$170.21 and its 200 day simple moving average is C$157.97. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 EPS for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The company had revenue of C$1.31 billion during the quarter. On average, analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Insiders Place Their Bets

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the completion of the sale, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is currently owned by company insiders.

About Toromont Industries

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.