Toromont Industries (TSE:TIH) Given New C$125.00 Price Target at Scotiabank

Toromont Industries (TSE:TIH) had its price target decreased by Scotiabank from C$133.00 to C$125.00 in a research note released on Friday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Other equities research analysts have also issued reports about the company. TD Securities decreased their target price on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research report on Friday. National Bankshares decreased their price objective on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a report on Friday. Canaccord Genuity Group boosted their target price on shares of Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a research note on Thursday, February 15th. CIBC reduced their target price on shares of Toromont Industries from C$130.00 to C$128.00 and set a neutral rating for the company in a research report on Friday. Finally, Royal Bank of Canada lowered their price target on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Toromont Industries currently has an average rating of Moderate Buy and an average price target of C$132.75.

Toromont Industries Trading Down 0.4 %

Shares of TIH stock opened at C$122.28 on Friday. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The company has a 50-day simple moving average of C$128.32 and a two-hundred day simple moving average of C$119.24. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. The company has a market capitalization of C$10.06 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.73 by C$0.13. The company had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. Research analysts anticipate that Toromont Industries will post 6.3025012 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, June 7th. Toromont Industries’s dividend payout ratio (DPR) is presently 30.09%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total value of C$375,000.00. Also, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. In the last ninety days, insiders sold 21,700 shares of company stock worth $2,727,180. Corporate insiders own 0.27% of the company’s stock.

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.