Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$135.00.
TIH has been the subject of several research analyst reports. National Bank Financial raised shares of Toromont Industries from a "hold" rating to a "strong-buy" rating in a research note on Sunday, December 15th. BMO Capital Markets lowered their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. National Bankshares cut their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price target on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Finally, Scotiabank dropped their price objective on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th.
Read Our Latest Stock Analysis on TIH
Toromont Industries Trading Up 0.4 %
Shares of TSE TIH traded up C$0.47 during mid-day trading on Wednesday, reaching C$113.64. 54,226 shares of the company's stock were exchanged, compared to its average volume of 119,893. The company's 50-day moving average is C$116.59 and its 200-day moving average is C$121.95. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The firm has a market capitalization of C$9.31 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53.
Toromont Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.69%. Toromont Industries's payout ratio is 30.62%.
Insiders Place Their Bets
In other news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the stock in a transaction on Tuesday, December 10th. The stock was bought at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is owned by company insiders.
About Toromont Industries
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Get Free ReportToromont 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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