Toromont Industries (TSE:TIH) Given New C$265.00 Price Target at Royal Bank Of Canada

Toromont Industries (TSE:TIH) had its target price lifted by analysts at Royal Bank Of Canada from C$256.00 to C$265.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 24.37% from the stock’s previous close.

A number of other equities research analysts have also issued reports on TIH. Scotiabank raised their price target on Toromont Industries from C$229.00 to C$238.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. National Bank Financial upped their price objective on Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from C$200.00 to C$235.00 in a research note on Monday, April 27th. Scotia lifted their target price on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Toromont Industries from C$240.00 to C$242.00 in a research note on Thursday. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$246.89.

Toromont Industries Trading Up 3.0%

TSE TIH traded up C$6.27 during trading on Thursday, hitting C$213.08. The stock had a trading volume of 213,740 shares, compared to its average volume of 272,155. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17. The stock has a market capitalization of C$17.37 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 3.72 and a beta of 0.98. Toromont Industries has a one year low of C$137.41 and a one year high of C$243.50. The stock has a 50 day simple moving average of C$224.43 and a 200 day simple moving average of C$207.86.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. The business had revenue of C$1.60 billion during the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%. Sell-side analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current year.

About Toromont Industries

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.