Toromont Industries (TSE:TIH) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Toromont Industries (TSE:TIH) from a hold rating to a strong-buy rating in a research report released on Sunday morning, MarketBeat.com reports.

A number of other equities research analysts have also issued reports on TIH. CIBC raised their price target on Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. National Bankshares reduced their price objective on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. BMO Capital Markets reduced their price objective on Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Raymond James reduced their price objective on Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. Finally, Scotiabank reduced their price objective on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$135.00.

Toromont Industries Price Performance

TSE:TIH opened at C$112.30 on Friday. The firm has a market capitalization of C$9.20 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53. The business has a 50 day simple moving average of C$120.92 and a 200-day simple moving average of C$122.46. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.71%. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the stock in a transaction on Tuesday, December 10th. The stock was 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.