Toromont Industries Ltd. (TSE:TIH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Toromont Industries Ltd. (TSE:TIH) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$172.88.

TIH has been the subject of several research analyst reports. Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. BMO Capital Markets upped their price target on Toromont Industries to C$178.00 in a research note on Friday, October 31st. TD Securities lifted their price objective on Toromont Industries from C$179.00 to C$180.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. CIBC boosted their price objective on Toromont Industries from C$168.00 to C$172.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, National Bankshares lifted their target price on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd.

Toromont Industries Price Performance

Shares of Toromont Industries stock traded up C$4.13 on Friday, hitting C$178.19. 209,964 shares of the company were exchanged, compared to its average volume of 149,424. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$180.33. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The stock has a market capitalization of C$14.50 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 3.72 and a beta of 0.58. The company has a 50-day moving average price of C$165.04 and a 200 day moving average price of C$152.72.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 earnings per share for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.The company had revenue of C$1.31 billion for the quarter. As a group, sell-side analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, December 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Toromont Industries’s payout ratio is presently 33.72%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the transaction, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by company insiders.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.