Toromont Industries Ltd. (TSE:TIH) Receives C$136.06 Consensus PT from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$136.06.

Several analysts have commented on TIH shares. Raymond James boosted their target price on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. BMO Capital Markets boosted their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. National Bankshares upped their price objective on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th.

Toromont Industries Stock Performance

TIH stock opened at C$117.10 on Monday. 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 company has a market capitalization of C$9.55 billion, a price-to-earnings ratio of 19.02, a P/E/G 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 firm has a 50 day moving average of C$118.24 and a two-hundred day moving average of C$120.17.

Toromont Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be paid a dividend of $0.52 per share. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, March 7th. Toromont Industries’s dividend payout ratio is presently 31.18%.

Insider Activity at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00. Insiders sold a total of 10,200 shares of company stock worth $1,204,504 in the last ninety days. 0.27% of the stock is currently owned by insiders.

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.