BMO Capital Markets Raises Toromont Industries (TSE:TIH) Price Target to C$133.00

Toromont Industries (TSE:TIH) had its price objective increased by BMO Capital Markets from C$130.00 to C$133.00 in a report issued on Monday, BayStreet.CA reports.

A number of other research analysts also recently weighed in on TIH. National Bankshares cut their price target on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. TD Securities cut their target price on Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Canaccord Genuity Group boosted their target price on Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Royal Bank of Canada lowered their price target on Toromont Industries from C$140.00 to C$137.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Finally, Scotiabank reduced their price objective on shares of Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating on the stock in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of C$133.13.

Toromont Industries Price Performance

Shares of TIH stock opened at C$124.19 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. Toromont Industries has a 12 month low of C$100.81 and a 12 month high of C$135.53. The firm has a market cap of C$10.22 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.72 and a beta of 0.72. The stock has a 50-day moving average price of C$128.14 and a 200 day moving average price of C$119.68.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, topping the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. The company had revenue of C$1.23 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Research analysts expect that Toromont Industries will post 6.3025012 EPS for the current year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.92 annualized dividend and a yield of 1.55%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In related news, Director David Allan Malinauskas sold 8,700 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other news, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total transaction of C$375,000.00. Over the last quarter, insiders have sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is currently owned by corporate 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.