Toromont Industries (TSE:TIH - Free Report) had its price target hoisted by Royal Bank of Canada from C$138.00 to C$139.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.
Other research analysts also recently issued reports about the stock. Scotiabank raised their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a "sector perform" rating in a research report on Thursday. CIBC increased their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a "neutral" rating in a research note on Thursday. Canaccord Genuity Group lifted their target price on Toromont Industries from C$130.00 to C$134.00 and gave the company a "buy" rating in a research note on Thursday. BMO Capital Markets increased their price target on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Finally, National Bank Financial raised Toromont Industries from a "hold" rating to a "strong-buy" rating in a report on Sunday, December 15th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$136.06.
Read Our Latest Stock Analysis on Toromont Industries
Toromont Industries Stock Performance
Shares of TSE TIH traded down C$1.81 during trading on Thursday, reaching C$121.10. The stock had a trading volume of 102,352 shares, compared to its average volume of 151,464. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The stock has a market cap of C$9.88 billion, a PE ratio of 19.67, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$109.83 and a one year high of C$135.53. The firm's 50 day moving average price is C$115.72 and its two-hundred day moving average price is C$120.98.
Toromont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were paid a $0.48 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.92 annualized dividend and a dividend yield of 1.59%. Toromont Industries's payout ratio is 31.18%.
Insider Activity at Toromont Industries
In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Company insiders own 0.27% of the company's stock.
Toromont Industries Company Profile
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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.
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