Toromont Industries (TSE:TIH) Hits New 12-Month Low - Time to Sell?

Toromont Industries Ltd. (TSE:TIH - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$0.01 and last traded at C$121.31, with a volume of 36375 shares trading hands. The stock had previously closed at C$121.47.

Analyst Upgrades and Downgrades

TIH has been the topic of several research analyst reports. Scotiabank increased their price objective on Toromont Industries from C$132.00 to C$133.50 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. 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. National Bank Financial upgraded Toromont Industries from a "hold" rating to a "strong-buy" rating in a report on Sunday, December 15th. Royal Bank of Canada upped their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Raymond James raised 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, February 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$136.06.

Toromont Industries Price Performance

The firm has a market capitalization of C$9.57 billion, a P/E ratio of 19.06, a P/E/G ratio of 3.72 and a beta of 0.68. The stock's fifty day simple moving average is C$117.89 and its 200 day simple moving average is C$120.64. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

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Toromont Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Toromont Industries's previous quarterly dividend of $0.48. Toromont Industries's dividend payout ratio is currently 31.18%.

Insider Transactions at Toromont Industries

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 acquired at an average price of C$111.45 per share, for a total transaction of C$501,525.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$121.25, for a total transaction of C$606,250.00. Insiders own 0.27% of the company's stock.

Toromont Industries Company Profile

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.