Toromont Industries (TSE:TIH) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Toromont Industries Ltd. (TSE:TIH) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$124.80 and traded as high as C$130.24. Toromont Industries shares last traded at C$129.61, with a volume of 80,744 shares trading hands.

Analyst Ratings Changes

TIH has been the topic of a number of research reports. Scotiabank set a C$136.00 price target on Toromont Industries and gave the company a “sector perform” rating in a report on Wednesday, August 21st. BMO Capital Markets lifted their price target on Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. TD Securities upped their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, National Bankshares upped their price objective on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$137.13.

Toromont Industries Stock Performance

The stock has a market cap of C$10.62 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The stock has a 50 day simple moving average of C$125.37 and a 200 day simple moving average of C$124.80.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.53 by C$0.11. The company had revenue of C$1.36 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. On average, equities analysts expect that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, September 6th. Toromont Industries’s payout ratio is presently 30.62%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Peter James Blake bought 300 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of C$122.53 per share, for a total transaction 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 stock was purchased at an average price of C$122.53 per share, with a total value of C$36,758.01. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Insiders have sold 5,500 shares of company stock valued at $677,864 over the last three months. 0.27% of the stock is owned by insiders.

About Toromont Industries

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.