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

Toromont Industries Ltd. (TSE:TIH) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$137.13.

Several brokerages have recently weighed in on TIH. BMO Capital Markets raised their target price on Toromont Industries from C$133.00 to C$136.00 in a research note on Wednesday, July 24th. National Bankshares increased their price objective on shares of Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their target price on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Securities lifted their price target on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Scotiabank set a C$136.00 price target on shares of Toromont Industries and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st.

Toromont Industries Stock Down 0.5 %

Shares of TSE:TIH opened at C$129.81 on Monday. Toromont Industries has a 1 year low of C$100.81 and a 1 year high of C$135.53. The stock has a 50-day simple moving average of C$124.25 and a 200-day simple moving average of C$124.44. The stock has a market capitalization of C$10.63 billion, a P/E ratio of 20.70, a PEG ratio of 3.72 and a beta of 0.67. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The business had revenue of C$1.36 billion during the quarter, compared to analyst estimates of C$1.19 billion.

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd will be paid a $0.48 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.92 annualized dividend and a yield of 1.48%. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Buying and Selling

In other news, Director Peter James Blake bought 300 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of C$122.53 per share, with a total value of C$36,758.01. In other Toromont Industries news, Director Peter James Blake bought 300 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of C$122.53 per share, with a total value of C$36,758.01. Also, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. Over the last ninety days, insiders sold 5,500 shares of company stock worth $677,864. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.