National Bank Financial Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price objective upped by National Bank Financial from C$216.00 to C$259.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 9.64% from the company’s previous close.

TIH has been the subject of several other research reports. Scotia raised their target price on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Raymond James Financial upgraded Toromont Industries from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$190.00 to C$235.00 in a research report on Thursday, June 18th. BMO Capital Markets increased their price objective on Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday, April 29th. Royal Bank Of Canada lifted their price objective on Toromont Industries from C$234.00 to C$256.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Finally, Canaccord Genuity Group upgraded shares of Toromont Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from C$200.00 to C$235.00 in a research note on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$228.67.

Toromont Industries Price Performance

Shares of TSE:TIH traded down C$1.23 during midday trading on Tuesday, reaching C$236.23. 130,947 shares of the company’s stock were exchanged, compared to its average volume of 256,647. The company’s 50 day simple moving average is C$217.79 and its two-hundred day simple moving average is C$196.19. The firm has a market capitalization of C$19.26 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98. Toromont Industries has a 12 month low of C$119.42 and a 12 month high of C$243.50. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. The firm had revenue of C$1.23 billion during the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. Equities research analysts expect that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.