Canaccord Genuity Group Boosts Toromont Industries (TSE:TIH) Price Target to C$134.00

Toromont Industries (TSE:TIH) had its price target hoisted by analysts at Canaccord Genuity Group from C$130.00 to C$134.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 10.65% from the stock’s previous close.

TIH has been the subject of a number of other reports. Royal Bank of Canada dropped their price target on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. National Bankshares lowered their target price on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Raymond James increased their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$136.28.

Toromont Industries Price Performance

TSE:TIH opened at C$121.10 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The firm has a market cap of C$9.88 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The company’s 50-day moving average price is C$115.54 and its two-hundred day moving average price is C$121.11.

Insider Buying and Selling at Toromont Industries

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of C$111.45 per share, with a total value of C$501,525.00. 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.