Toromont Industries (TSE:TIH) Downgraded by National Bankshares to “Sector Perform”

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

Other analysts also recently issued reports about the stock. Royal Bank of Canada increased their price target on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. BMO Capital Markets increased their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a research note on Friday, October 18th. Scotiabank set a C$136.00 target price on Toromont Industries and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Finally, TD Securities upped their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$138.00.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$126.09 on Tuesday. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The stock has a market cap of C$10.33 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The business has a 50-day simple moving average of C$127.08 and a 200-day simple moving average of C$124.97.

Toromont Industries (TSE:TIH) last announced its quarterly 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 company had revenue of C$1.36 billion during the quarter, compared to the consensus estimate of C$1.19 billion. On average, equities analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, September 6th. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Activity

In other Toromont Industries news, Director Peter James Blake acquired 300 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of C$122.53 per share, for a total transaction of C$36,758.01. In other Toromont Industries news, Director Peter James Blake purchased 300 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of C$122.53 per share, with a total value of C$36,758.01. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Insiders sold 5,500 shares of company stock worth $677,864 over the last three months. 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.