CIBC Boosts Toromont Industries (TSE:TIH) Price Target to C$129.00

Toromont Industries (TSE:TIH - Free Report) had its price objective boosted by CIBC from C$128.00 to C$129.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

A number of other research firms also recently commented on TIH. Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Scotiabank decreased their price target on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Raymond James cut their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. BMO Capital Markets decreased their target price on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. Finally, National Bankshares reduced their price objective on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$135.13.

Toromont Industries Stock Down 0.1 %

Toromont Industries stock traded down C$0.11 during midday trading on Monday, hitting C$116.72. 97,375 shares of the stock were exchanged, compared to its average volume of 159,894. Toromont Industries has a 1 year low of C$109.83 and a 1 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 firm has a market cap of C$9.56 billion, a P/E ratio of 18.62, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a 50 day moving average price of C$114.96 and a two-hundred day moving average price of C$121.37.

Toromont Industries (TSE:TIH - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported C$1.59 EPS for the quarter, missing analysts' consensus estimates of C$1.67 by C($0.08). Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. During the same period in the previous year, the company posted $1.76 earnings per share. On average, sell-side analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, December 6th. Toromont Industries's dividend payout ratio (DPR) is presently 30.62%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm acquired 4,500 shares of Toromont Industries stock in a transaction dated 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. Company 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.