Toromont Industries Ltd. (TSE:TIH) Receives Average Recommendation of “Moderate Buy” from Analysts

Toromont Industries Ltd. (TSE:TIH) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$172.88.

Several equities research analysts have weighed in on TIH shares. Scotiabank increased their target price on shares of Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. National Bankshares raised their price objective on 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. TD Securities lifted their target price on Toromont Industries from C$179.00 to C$180.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Royal Bank Of Canada boosted their target price on Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, CIBC raised their price target on Toromont Industries from C$168.00 to C$172.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd.

Toromont Industries Price Performance

Shares of TIH opened at C$174.06 on Friday. The stock has a market cap of C$14.16 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 3.72 and a beta of 0.58. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$174.24. The stock’s 50-day moving average price is C$164.70 and its two-hundred day moving average price is C$152.12. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

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

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, December 5th. 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 on 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 owned 12,012 shares of the company’s stock, valued at C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is 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.