TD Securities Lowers Toromont Industries (TSE:TIH) Price Target to C$140.00

Toromont Industries (TSE:TIH) had its target price lowered by TD Securities from C$145.00 to C$140.00 in a research report report published on Friday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on TIH. CIBC lifted their target price on shares of Toromont Industries from C$123.00 to C$130.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Raymond James upped their target price on Toromont Industries from C$125.00 to C$135.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Royal Bank of Canada raised their price target on Toromont Industries from C$125.00 to C$140.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. BMO Capital Markets lifted their price target on Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Finally, National Bankshares set a C$137.00 price objective on shares of Toromont Industries and gave the stock an outperform rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Toromont Industries presently has an average rating of Moderate Buy and a consensus target price of C$133.13.

Toromont Industries Stock Up 1.1 %

Shares of TSE:TIH opened at C$123.64 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The company has a market capitalization of C$10.18 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.72 and a beta of 0.72. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The stock’s fifty day simple moving average is C$128.24 and its 200-day simple moving average is C$119.52.

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

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.55%. Toromont Industries’s dividend payout ratio (DPR) is 30.09%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries 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 transaction of C$375,000.00. Also, Director David Allan Malinauskas sold 8,700 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. Insiders sold 21,700 shares of company stock valued at $2,727,180 over the last 90 days. 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.