Toromont Industries (TSE:TIH) Price Target Raised to C$133.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price objective boosted by BMO Capital Markets from C$130.00 to C$133.00 in a report released on Monday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on TIH. Raymond James decreased their price objective on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a report on Friday, May 3rd. Scotiabank decreased their target price on shares of Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating for the company in a research report on Friday, May 3rd. Canaccord Genuity Group lifted their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a research note on Thursday, February 15th. National Bankshares reduced their target price 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, May 3rd. Finally, Royal Bank of Canada decreased 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 research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of C$133.13.

Toromont Industries Price Performance

Toromont Industries stock opened at C$124.31 on Monday. The stock has a market capitalization of C$10.23 billion, a P/E ratio of 19.48, a P/E/G ratio of 3.72 and a beta of 0.72. The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38. Toromont Industries has a 12-month low of C$100.81 and a 12-month high of C$135.53. The firm’s 50-day moving average is C$128.13 and its two-hundred day moving average is C$119.71.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion for 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%. Equities analysts predict that Toromont Industries will post 6.3025012 earnings per share for the current year.

Toromont Industries Dividend Announcement

The company 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. This represents a $1.92 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, June 6th. Toromont Industries’s dividend payout ratio (DPR) is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of Toromont Industries stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Director David Allan Malinauskas sold 8,700 shares of the company’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 have sold 21,700 shares of company stock worth $2,727,180 over the last 90 days. Company 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.