CIBC Boosts Toromont Industries (TSE:TIH) Price Target to C$131.00

Toromont Industries (TSE:TIH) had its price target raised by stock analysts at CIBC from C$129.00 to C$131.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential upside of 8.18% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Raymond James lowered their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Scotiabank lowered their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. BMO Capital Markets lifted their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday. National Bankshares decreased their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy” and a consensus target price of C$136.28.

Toromont Industries Trading Down 1.5 %

TIH opened at C$121.10 on Thursday. The firm has a market capitalization of C$9.88 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company’s 50 day simple moving average is C$115.54 and its two-hundred day simple moving average is C$121.11. Toromont Industries has a 1-year low of C$109.83 and a 1-year high of C$135.53. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of Toromont Industries stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 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.