Toromont Industries (TSE:TIH) had its price objective boosted by analysts at Raymond James Financial from C$63.00 to C$67.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 16.36% from the stock’s current price.
Several other research analysts have also recently weighed in on the company. National Bank Financial boosted their target price on Toromont Industries from C$60.00 to C$63.00 and gave the stock a “sector perform” rating in a report on Thursday, November 9th. CIBC boosted their target price on Toromont Industries from C$59.00 to C$60.00 in a report on Monday, January 15th. Scotiabank boosted their target price on Toromont Industries from C$53.00 to C$59.00 and gave the stock a “sector perform” rating in a report on Thursday, November 9th. Finally, Royal Bank of Canada set a C$58.00 target price on Toromont Industries and gave the stock a “sector perform” rating in a report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Toromont Industries currently has an average rating of “Hold” and an average target price of C$62.50.
Shares of Toromont Industries (TSE TIH) opened at C$57.58 on Monday. The company has a market capitalization of $4,620.00, a P/E ratio of 26.17 and a beta of 0.82. Toromont Industries has a 52 week low of C$43.51 and a 52 week high of C$58.79.
About Toromont Industries
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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