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

Toromont Industries (TSE:TIH) had its target price reduced by investment analysts at Scotiabank from C$136.00 to C$132.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 10.72% from the company’s current price.

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

Toromont Industries Stock Down 0.3 %

Shares of TSE:TIH opened at C$119.22 on Wednesday. Toromont Industries has a fifty-two week low of C$108.04 and a fifty-two week high of C$135.53. 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 firm’s 50-day simple moving average is C$127.10 and its 200-day simple moving average is C$124.42. The company has a market cap 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.

Insider Buying and Selling

In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction 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. Insiders have sold 4,500 shares of company stock worth $554,864 in the last three months. Corporate 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.