Toromont Industries Ltd. (TSE:TIH) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$136.06.

Several research firms recently weighed in on TIH. Raymond James lifted 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 report on Thursday, February 13th. Scotiabank lifted their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a "sector perform" rating in a report on Thursday, February 13th. National Bank Financial upgraded shares of Toromont Industries from a "hold" rating to a "strong-buy" rating in a report on Sunday, December 15th. BMO Capital Markets lifted their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price target on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th.

Insider Transactions at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00. In the last three months, insiders sold 10,200 shares of company stock valued at $1,204,504. Insiders own 0.27% of the company's stock.

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Toromont Industries Trading Down 0.9 %

Shares of TSE TIH traded down C$1.10 during midday trading on Monday, reaching C$116.00. 108,792 shares of the stock were exchanged, compared to its average volume of 151,565. The company has a 50 day simple moving average of C$118.24 and a 200 day simple moving average of C$120.17. The stock has a market capitalization of C$9.46 billion, a P/E ratio of 18.84, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53.

Toromont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This is a boost from Toromont Industries's previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, March 7th. Toromont Industries's payout ratio is 31.18%.

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.