Toromont Industries (TSE:TIH) Stock Rating Lowered by National Bankshares

Toromont Industries (TSE:TIH) was downgraded by National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued on Tuesday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. Scotiabank set a C$136.00 target price on Toromont Industries and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. TD Securities increased their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target 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. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$138.00.

Toromont Industries Price Performance

TIH stock opened at C$129.04 on Tuesday. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The firm has a market capitalization of C$10.57 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a fifty day simple moving average of C$127.01 and a two-hundred day simple moving average of C$125.01. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping the consensus estimate 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 company had revenue of C$1.36 billion during the quarter, compared to analyst estimates of C$1.19 billion. Analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Jennifer Cochrane sold 1,400 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total transaction of C$169,750.00. Insiders have sold 5,500 shares of company stock worth $677,864 in the last three months. Corporate insiders own 0.27% of the company’s stock.

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.