BMO Capital Markets Issues Pessimistic Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price target dropped by stock analysts at BMO Capital Markets from C$143.00 to C$140.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 17.43% from the stock’s previous close.

Several other brokerages have also recently issued reports on TIH. Raymond James dropped their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday. National Bank Financial downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. National Bankshares decreased their price objective on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. TD Securities increased their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Scotiabank lowered their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$135.00.

Toromont Industries Price Performance

Shares of TIH stock opened at C$119.22 on Wednesday. The company has a market capitalization of C$9.77 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.72 and a beta of 0.68. The company’s 50-day simple moving average is C$127.10 and its two-hundred day simple moving average is C$124.42. Toromont Industries has a one year low of C$108.04 and a one year high of C$135.53. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Insiders Place Their Bets

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’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 Toromont Industries 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 transaction of C$169,750.00. Over the last three months, insiders have sold 4,500 shares of company stock valued at $554,864. 0.27% of the stock is currently 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.