Royal Bank of Canada Issues Pessimistic Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price objective lowered by research analysts at Royal Bank of Canada from C$142.00 to C$138.00 in a report issued on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 15.75% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Scotiabank cut their price objective on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. TD Securities raised their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. National Bank Financial downgraded shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, National Bankshares decreased their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$135.00.

Toromont Industries Stock Down 0.3 %

Shares of Toromont Industries stock opened at C$119.22 on Wednesday. Toromont Industries has a 12-month low of C$108.04 and a 12-month high of C$135.53. The firm has a market capitalization of C$9.77 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The stock’s fifty day moving average is C$127.10 and its 200-day moving average is C$124.42.

Insider Buying and Selling at Toromont Industries

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 news, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total transaction of C$169,750.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s 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. Insiders have sold 4,500 shares of company stock worth $554,864 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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.