Toromont Industries (TSE:TIH) Price Target Raised to C$150.00 at TD Securities

Toromont Industries (TSE:TIH) had its target price upped by stock analysts at TD Securities from C$140.00 to C$150.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 19.24% from the company’s current price.

TIH has been the topic of several other reports. BMO Capital Markets increased their price target on Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. Royal Bank of Canada raised their price objective on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday. 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 report on Friday, May 3rd. Raymond James lowered their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Finally, Scotiabank lowered their price objective on Toromont Industries from C$133.00 to C$125.00 and set a “sector perform” rating for the company in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Toromont Industries presently has a consensus rating of “Moderate Buy” and an average price target of C$135.75.

Toromont Industries Stock Down 2.0 %

Shares of TIH traded down C$2.60 on Thursday, hitting C$125.80. 49,994 shares of the stock traded hands, compared to its average volume of 103,657. The company has a debt-to-equity ratio of 24.51, a quick ratio of 1.38 and a current ratio of 2.65. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53. The company has a market capitalization of C$10.34 billion, a PE ratio of 20.16, a P/E/G ratio of 3.72 and a beta of 0.73. The business has a 50 day simple moving average of C$121.61 and a 200 day simple moving average of C$123.69.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$1.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.11 by C($0.10). The business had revenue of C$1.02 billion during the quarter, compared to the consensus estimate of C$1.05 billion. Toromont Industries had a return on equity of 20.10% and a net margin of 11.38%. As a group, equities analysts forecast that Toromont Industries will post 6.125 earnings per share for the current fiscal year.

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.