Toromont Industries Ltd. (TSE:TIH) Receives C$135.00 Consensus Target Price from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$135.00.

Several equities research analysts recently weighed in on the stock. CIBC boosted their price target on shares of Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Royal Bank of Canada reduced their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. BMO Capital Markets reduced their price objective on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday, November 6th. Finally, Raymond James lowered their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th.

Insider Activity

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Company insiders own 0.27% of the company’s stock.

Toromont Industries Trading Up 0.2 %

Toromont Industries stock opened at C$113.28 on Wednesday. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The firm’s 50 day moving average price is C$116.01 and its 200-day moving average price is C$121.87. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53. The stock has a market cap of C$9.28 billion, a P/E ratio of 18.07, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, January 6th will be issued a $0.48 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.69%. Toromont Industries’s dividend payout ratio is presently 30.62%.

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.