Toromont Industries (TSE:TIH) Price Target Raised to C$134.00

Toromont Industries (TSE:TIH - Free Report) had its price objective boosted by Canaccord Genuity Group from C$130.00 to C$134.00 in a report published on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

TIH has been the subject of a number of other research reports. National Bank Financial raised Toromont Industries from a "hold" rating to a "strong-buy" rating in a research report on Sunday, December 15th. Scotiabank lowered their price target on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. CIBC increased their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the stock a "neutral" rating in a report on Thursday. National Bankshares reduced their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Finally, Raymond James increased their price target on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a "market perform" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$136.06.

Toromont Industries Stock Down 1.5 %

Toromont Industries stock traded down C$1.81 during trading hours on Thursday, hitting C$121.10. The company had a trading volume of 102,352 shares, compared to its average volume of 151,464. The firm's fifty day moving average is C$115.72 and its 200-day moving average is C$120.98. The firm has a market capitalization of C$9.88 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Toromont Industries Announces Dividend

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

Insider Buying and Selling at Toromont Industries

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