Toromont Industries (TSE:TIH) had its target price lowered by research analysts at Scotiabank from C$76.00 to C$61.00 in a research report issued on Tuesday, BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 0.43% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the stock. National Bank Financial raised their price objective on shares of Toromont Industries from C$79.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Canaccord Genuity upgraded shares of Toromont Industries from a “hold” rating to a “buy” rating and dropped their price target for the company from C$69.00 to C$66.00 in a research report on Monday. TD Securities lifted their price target on shares of Toromont Industries from C$76.00 to C$81.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. CIBC lifted their price target on shares of Toromont Industries from C$69.00 to C$75.00 in a research report on Wednesday, January 15th. Finally, Raymond James reiterated an “outperform” rating and set a C$82.00 price target on shares of Toromont Industries in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$73.88.
Toromont Industries stock opened at C$60.74 on Tuesday. Toromont Industries has a 12-month low of C$52.36 and a 12-month high of C$74.68. The stock has a market cap of $4.78 billion and a P/E ratio of 17.40. The company has a 50-day moving average price of C$66.50 and a 200 day moving average price of C$67.44. The company has a current ratio of 1.83, a quick ratio of 0.91 and a debt-to-equity ratio of 44.13.
In other Toromont Industries news, Senior Officer Mike Cuddy sold 6,000 shares of Toromont Industries stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$71.25, for a total transaction of C$427,500.00. Following the completion of the sale, the insider now directly owns 101,504 shares in the company, valued at C$7,232,160. Over the last quarter, insiders have sold 10,100 shares of company stock valued at $719,180.
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 is involved 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.
Featured Article: What is a Futures Contract?
Receive News & Ratings for Toromont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries and related companies with MarketBeat.com's FREE daily email newsletter.