Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Scotiabank Analyst Says

Toromont Industries (TSE:TIH) had its target price increased by Scotiabank from C$132.00 to C$133.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 10.24% from the company’s previous close.

A number of other brokerages also recently weighed in on TIH. Raymond James increased their price target on Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a report on Thursday. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Royal Bank of Canada dropped their price target on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. CIBC lifted 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 research note on Thursday. Finally, National Bankshares cut their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Price Performance

Toromont Industries stock opened at C$121.10 on Thursday. The firm has a market cap of C$9.88 billion, a P/E ratio of 19.67, a P/E/G ratio of 3.72 and a beta of 0.68. The stock’s 50 day moving average is C$115.54 and its 200 day moving average is C$121.11. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. Toromont Industries has a one year low of C$109.83 and a one year high of C$135.53.

Insider Transactions at Toromont Industries

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is currently owned by 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.