Toromont Industries (TSE:TIH) Price Target Raised to C$200.00

Toromont Industries (TSE:TIH) had its target price boosted by investment analysts at Canaccord Genuity Group from C$172.00 to C$200.00 in a note issued to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential downside of 1.83% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. TD Securities boosted their price target on shares of Toromont Industries from C$180.00 to C$195.00 in a research note on Wednesday, February 4th. BMO Capital Markets lifted their target price on Toromont Industries from C$196.00 to C$210.00 in a report on Thursday. National Bank Financial upped their price target on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Canadian Imperial Bank of Commerce lifted their price objective on Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Finally, Raymond James Financial upped their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$189.22.

Toromont Industries Trading Up 3.2%

Toromont Industries stock traded up C$6.39 during trading on Friday, hitting C$203.72. The company had a trading volume of 190,727 shares, compared to its average volume of 215,014. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The company’s 50 day simple moving average is C$172.43 and its 200-day simple moving average is C$159.56. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$204.15. The stock has a market cap of C$16.59 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share (EPS) for the quarter. The firm had revenue of C$1.42 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. As a group, analysts expect that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Insider Buying and Selling at Toromont Industries

In other news, insider Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the completion of the sale, the insider owned 12,012 shares in the company, valued at approximately C$1,981,980. This trade represents a 29.39% decrease in their position. 0.27% of the stock is currently owned by corporate insiders.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.