Toromont Industries (TSE:TIH) Stock Price Target Lowered at Royal Bank Of Canada

Toromont Industries (TSE:TIH) had its price objective reduced by research analysts at Royal Bank Of Canada from C$265.00 to C$261.00 in a research note issued to investors on Tuesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 25.08% from the company’s current price.

Several other brokerages have also recently issued reports on TIH. Scotiabank raised shares of Toromont Industries from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$238.00 to C$239.00 in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their target price on shares of Toromont Industries from C$240.00 to C$242.00 in a research note on Thursday, July 30th. Canaccord Genuity Group boosted their target price on Toromont Industries from C$240.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets upped their price target on Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Raymond James Financial increased their price target on Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$246.80.

Toromont Industries Price Performance

Toromont Industries stock traded up C$15.61 during trading on Tuesday, reaching C$208.67. The company had a trading volume of 247,116 shares, compared to its average volume of 279,490. The firm’s 50-day simple moving average is C$209.34 and its 200 day simple moving average is C$209.34. Toromont Industries has a 1-year low of C$153.95 and a 1-year high of C$243.50. The firm has a market capitalization of C$17.02 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 3.72 and a beta of 0.83. The company has a debt-to-equity ratio of 24.76, a quick ratio of 1.38 and a current ratio of 2.73.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Monday, November 2nd. The company reported C$2.33 earnings per share for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. The firm had revenue of C$1.65 billion during the quarter. As a group, equities research analysts anticipate that Toromont Industries will post 6.59 earnings per share for the current fiscal year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.