Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Scotiabank Analyst Says

Toromont Industries (TSE:TIH - Get Free Report) had its target price raised by equities research analysts at Scotiabank from C$132.00 to C$133.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's target price would indicate a potential upside of 10.24% from the company's current price.

TIH has been the topic of a number of other reports. National Bankshares cut their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Royal Bank of Canada cut their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Raymond James upped their target price on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a "market perform" rating in a research report on Thursday. National Bank Financial raised Toromont Industries from a "hold" rating to a "strong-buy" rating in a research note on Sunday, December 15th. Finally, CIBC lifted their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the stock a "neutral" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$136.06.

Toromont Industries Trading Down 1.5 %

Shares of TIH stock traded down C$1.81 on Thursday, reaching C$121.10. 102,352 shares of the stock were exchanged, compared to its average volume of 151,464. The stock has a 50 day moving average price of C$115.72 and a 200 day moving average price of C$120.98. 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 company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Insiders Place Their Bets

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of C$111.45 per share, with a total value of C$501,525.00. Corporate insiders own 0.27% of the company's stock.

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.