Toromont Industries (TSE:TIH) Reaches New 1-Year High – Should You Buy?

Shares of Toromont Industries Ltd. (TSE:TIH) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$225.12 and last traded at C$224.78, with a volume of 35735 shares. The stock had previously closed at C$222.73.

Analyst Ratings Changes

Several research firms recently commented on TIH. Raymond James Financial raised their price target on shares of Toromont Industries from C$180.00 to C$190.00 and gave the stock a “market perform” rating in a research note on Thursday, April 30th. National Bank Financial upped their target price on shares of Toromont Industries from C$214.00 to C$216.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from C$200.00 to C$235.00 in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce lifted their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Finally, Scotiabank raised their price objective on Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$216.44.

Toromont Industries Stock Performance

The firm’s 50 day simple moving average is C$204.60 and its 200-day simple moving average is C$184.38. The company has a market cap of C$18.37 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 3.72 and a beta of 0.96. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. The company had revenue of C$1.23 billion during the quarter. On average, sell-side analysts predict that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. This is a boost from Toromont Industries’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, March 6th. Toromont Industries’s payout ratio is presently 33.70%.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total value of C$195,955.20. 0.27% of the stock is currently owned by company 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.