National Bankshares Has Lowered Expectations for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH - Free Report) had its price objective reduced by National Bankshares from C$135.00 to C$132.00 in a research note published on Tuesday, BayStreet.CA reports.

A number of other equities analysts have also commented on the stock. BMO Capital Markets raised their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Royal Bank of Canada boosted their price target on shares of Toromont Industries from C$137.00 to C$142.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. National Bank Financial downgraded Toromont Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Scotiabank set a C$136.00 price objective on Toromont Industries and gave the stock a "sector perform" rating in a report on Wednesday, August 21st. Finally, TD Securities raised their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Toromont Industries currently has an average rating of "Hold" and an average target price of C$137.63.

Toromont Industries Stock Performance

Shares of Toromont Industries stock traded down C$3.69 during trading hours on Tuesday, reaching C$119.01. The company had a trading volume of 267,258 shares, compared to its average volume of 105,405. The firm has a market cap of C$9.75 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$107.82 and a one year high of C$135.53. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The business has a fifty day simple moving average of C$127.23 and a 200 day simple moving average of C$124.56.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were given a dividend of $0.48 per share. The ex-dividend date was Friday, September 6th. This represents a $1.92 annualized dividend and a yield of 1.61%. Toromont Industries's payout ratio is 30.62%.

Insider Buying and Selling at Toromont Industries

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. Over the last 90 days, insiders sold 5,500 shares of company stock worth $677,864. 0.27% of the stock is currently owned by insiders.

About Toromont Industries

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 engages 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.