Toromont Industries (TSE:TIH) Raised to Strong-Buy at Stifel Nicolaus

Toromont Industries (TSE:TIH) was upgraded by research analysts at Stifel Nicolaus to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

A number of other research analysts have also weighed in on TIH. Raymond James Financial increased their price objective on Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group raised their price objective on shares of Toromont Industries from C$240.00 to C$260.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Royal Bank Of Canada increased their target price on shares of Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Scotiabank raised shares of Toromont Industries from a “hold” rating to an “outperform” rating and raised their price target for the company from C$238.00 to C$239.00 in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$247.20.

Toromont Industries Stock Up 0.4%

Shares of TSE TIH opened at C$226.98 on Monday. The stock’s fifty day simple moving average is C$211.03 and its two-hundred day simple moving average is C$214.15. Toromont Industries has a 12-month low of C$152.68 and a 12-month high of C$243.50. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. The stock has a market capitalization of C$18.51 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 3.72 and a beta of 0.94.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, July 28th. The company reported C$2.20 EPS for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. The business had revenue of C$1.60 billion during the quarter. As a group, analysts expect that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Company Profile

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.