Toromont Industries (TSE:TIH) Cut to Hold at National Bank Financial

Toromont Industries (TSE:TIH - Get Free Report) was downgraded by investment analysts at National Bank Financial from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks.com reports.

Several other research analysts also recently weighed in on the company. BMO Capital Markets upped their target price on Toromont Industries from C$136.00 to C$143.00 in a research note on Friday, October 18th. National Bankshares downgraded Toromont Industries from an "outperform" rating to a "sector perform" rating in a research note on Tuesday. TD Securities increased their price objective on 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. Royal Bank of Canada increased their price objective on Toromont Industries from C$137.00 to C$142.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Finally, Scotiabank set a C$136.00 target price on Toromont Industries and gave the company a "sector perform" rating in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$138.00.

Toromont Industries Stock Performance

Toromont Industries stock traded down C$0.10 during mid-day trading on Monday, hitting C$129.04. The company had a trading volume of 100,960 shares, compared to its average volume of 104,479. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 12-month low of C$100.81 and a 12-month high of C$135.53. The company's fifty day moving average is C$127.01 and its 200-day moving average is C$125.01. The company has a market capitalization of C$10.57 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping the consensus estimate 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 analyst estimates of C$1.19 billion. Equities research analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Transactions at Toromont Industries

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the 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. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the firm's 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. In the last ninety days, insiders sold 5,500 shares of company stock worth $677,864. 0.27% of the stock is currently owned by company 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.