Toromont Industries (TSE:TIH) Hits New 52-Week High at $119.90

Toromont Industries Ltd. (TSE:TIHGet Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as C$119.90 and last traded at C$119.63, with a volume of 29722 shares. The stock had previously closed at C$119.45.

Analyst Ratings Changes

A number of brokerages have weighed in on TIH. Scotiabank cut Toromont Industries from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$124.00 to C$125.00 in a research note on Tuesday, January 23rd. BMO Capital Markets lifted their price objective on Toromont Industries from C$116.00 to C$124.00 in a research report on Monday, December 11th. Canaccord Genuity Group reduced their price objective on Toromont Industries from C$127.00 to C$123.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Royal Bank of Canada reduced their price target on Toromont Industries from C$131.00 to C$125.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Finally, CIBC upped their target price on Toromont Industries from C$116.00 to C$123.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$125.50.

Get Our Latest Stock Report on Toromont Industries

Toromont Industries Stock Performance

The stock has a market capitalization of C$9.81 billion, a P/E ratio of 18.47, a P/E/G ratio of 3.72 and a beta of 0.75. The stock has a 50 day moving average of C$115.80 and a 200 day moving average of C$112.54. The company has a debt-to-equity ratio of 25.73, a quick ratio of 1.38 and a current ratio of 2.72.

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, January 4th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a yield of 1.44%. Toromont Industries’s payout ratio is currently 26.54%.

Insider Buying and Selling

In other Toromont Industries news, Director Scott Medhurst sold 3,409 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of C$114.77, for a total transaction of C$391,250.93. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$115.06, for a total transaction of C$69,036.00. Also, Director Scott Medhurst sold 3,409 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of C$114.77, for a total value of C$391,250.93. 0.26% of the stock is owned by company insiders.

Toromont Industries Company Profile

(Get Free Report)

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.

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