Toromont Industries (TSE:TIH) Downgraded by National Bankshares

National Bankshares lowered shares of Toromont Industries (TSE:TIH - Free Report) from an outperform rating to a sector perform rating in a research report sent to investors on Tuesday, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a research note on Friday. Royal Bank of Canada boosted their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. TD Securities raised their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Scotiabank set a C$136.00 price target on Toromont Industries and gave the stock a "sector perform" rating in a report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Toromont Industries has a consensus rating of "Moderate Buy" and a consensus price target of C$138.00.

Toromont Industries Stock Down 4.1 %

TIH stock traded down C$5.53 during trading hours on Tuesday, reaching C$129.14. 160,913 shares of the stock were exchanged, compared to its average volume of 104,497. The firm's 50-day moving average is C$126.73 and its 200-day moving average is C$125.03. Toromont Industries has a 12 month low of C$100.81 and a 12 month high of C$135.53. The company has a market cap of C$10.58 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The business had revenue of C$1.36 billion for the quarter, compared to the consensus estimate of C$1.19 billion. On average, equities research analysts expect that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, September 6th. Toromont Industries's dividend payout ratio (DPR) is presently 30.62%.

Insider Buying and Selling at Toromont Industries

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Insiders have sold a total of 5,500 shares of company stock worth $677,864 over the last 90 days. 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.