Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Toromont Industries (TSE:TIH) had its target price hoisted by investment analysts at Royal Bank of Canada from C$138.00 to C$139.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 14.78% from the stock’s current price.

Several other research firms have also recently weighed in on TIH. CIBC boosted their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a report on Thursday. Canaccord Genuity Group boosted their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research note on Thursday. 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. Scotiabank boosted their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Raymond James upped their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$136.28.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$121.10 on Thursday. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a market cap 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 business has a 50-day simple moving average of C$115.54 and a two-hundred day simple moving average of C$121.11. Toromont Industries has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53.

Insiders Place Their Bets

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