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

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$198.63.

A number of research firms recently commented on TIH. Scotiabank lifted their price target on Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. TD Securities raised their price objective on Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Raymond James Financial lifted their target price on Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce boosted their target price on Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Finally, Canaccord Genuity Group increased their price target on Toromont Industries from C$172.00 to C$200.00 in a research note on Friday, February 13th.

Insider Buying and Selling

In related news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction dated 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 approximately C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Down 2.3%

TSE:TIH opened at C$199.61 on Monday. The company has a market cap of C$16.26 billion, a PE ratio of 32.88, a PEG ratio of 3.72 and a beta of 0.89. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$215.58. The stock has a 50-day simple moving average of C$185.64 and a 200 day simple moving average of C$166.84. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. The company had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. On average, sell-side analysts expect that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. Toromont Industries’s dividend payout ratio (DPR) is currently 34.27%.

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.