Toromont Industries (TSE:TIH) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Toromont Industries Ltd. (TSE:TIH - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$121.56 and traded as high as C$122.86. Toromont Industries shares last traded at C$122.19, with a volume of 130,354 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Royal Bank of Canada lowered their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Raymond James lowered their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, CIBC upped their target price on Toromont Industries from C$127.00 to C$128.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$135.00.

Toromont Industries Trading Down 0.7 %

The firm's fifty day moving average is C$114.59 and its two-hundred day moving average is C$121.56. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The firm has a market cap of C$10.01 billion, a P/E ratio of 19.49, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported C$1.59 earnings per share (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 firm posted $1.76 EPS. Analysts predict that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were paid a $0.48 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.57%. Toromont Industries's payout ratio is 30.62%.

Insider Buying and Selling

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of the company'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 company insiders.

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.