Raymond James Issues Pessimistic Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price target decreased by equities researchers at Raymond James from C$132.00 to C$122.00 in a research report issued on Wednesday,BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 2.33% from the stock’s current price. Raymond James also issued estimates for Toromont Industries’ Q4 2024 earnings at $1.60 EPS.

Several other equities analysts also recently commented on the company. National Bankshares dropped their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Royal Bank of Canada dropped their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank dropped their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$135.00.

Toromont Industries Stock Down 0.3 %

Shares of TIH opened at C$119.22 on Wednesday. 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 has a 52 week low of C$108.04 and a 52 week high of C$135.53. The stock has a market capitalization of C$9.77 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.72 and a beta of 0.68. The stock has a fifty day moving average of C$127.10 and a 200-day moving average of C$124.42.

Insiders Place Their Bets

In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. In other news, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. 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 value of C$75,114.00. In the last ninety days, insiders sold 4,500 shares of company stock worth $554,864. Company 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.