Analysts Set Toromont Industries Ltd. (TSE:TIH) Price Target at C$135.00

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$135.00.

Several equities analysts have weighed in on the stock. National Bank Financial downgraded shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bankshares decreased their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Raymond James dropped their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. Royal Bank of Canada cut their price target on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Finally, Scotiabank lowered their price objective on Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th.

Toromont Industries Stock Up 0.4 %

Shares of TIH stock opened at C$116.99 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 12 month low of C$109.50 and a 12 month high of C$135.53. The stock has a market cap of C$9.58 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a 50 day simple moving average of C$126.93 and a two-hundred day simple moving average of C$124.09.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insider Activity

In other news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. 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.