Toromont Industries (TSE:TIH) Stock Price Crosses Below 200-Day Moving Average - Time to Sell?

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$121.21 and traded as low as C$116.40. Toromont Industries shares last traded at C$118.31, with a volume of 75,433 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TIH. National Bankshares upped their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an "outperform" rating in a report on Thursday. 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. CIBC raised their target price on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a "neutral" rating in a research note on Thursday. Raymond James upped their price target on Toromont Industries from C$122.00 to C$130.00 and gave the company a "market perform" rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on Toromont Industries from C$138.00 to C$139.00 and gave the stock an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$136.28.

Toromont Industries Stock Down 1.5 %

The firm has a 50-day moving average of C$115.54 and a two-hundred day moving average of C$121.11. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market capitalization of C$9.88 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries's dividend payout ratio is presently 31.18%.

Insider Activity at Toromont Industries

In other news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is owned by insiders.

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.