Brokerages Set Toromont Industries Ltd. (TSE:TIH) Price Target at C$136.06

Shares of Toromont Industries Ltd. (TSE:TIH) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$136.06.

A number of analysts have recently issued reports on TIH shares. Royal Bank of Canada raised their price target 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. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Raymond James increased their price objective 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. CIBC increased their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Scotiabank raised their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th.

Insider Activity

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business’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 Stock Down 1.0 %

Shares of TSE TIH opened at C$121.50 on Thursday. The company has a 50 day simple moving average of C$116.78 and a 200-day simple moving average of C$120.84. The company has a market capitalization of C$9.91 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.72 and a beta of 0.68. 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 1 year low of C$109.83 and a 1 year high of C$135.53.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.58%. Toromont Industries’s payout ratio is 31.18%.

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.