Toromont Industries (TSE:TIH) Price Target Lowered to C$140.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its target price reduced by BMO Capital Markets from C$143.00 to C$140.00 in a research note released on Wednesday, BayStreet.CA reports.

A number of other brokerages have also recently commented on TIH. Scotiabank reduced their price objective on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. National Bankshares decreased their price target on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. Royal Bank of Canada lowered their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Raymond James lowered their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$119.56 on Wednesday. The company’s fifty day simple moving average is C$127.15 and its 200-day simple moving average is C$124.49. 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 52 week low of C$107.82 and a 52 week high of C$135.53. The company has a market cap of C$9.79 billion, a PE ratio of 19.07, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.61%. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insider Transactions at Toromont Industries

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries 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. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total transaction of C$169,750.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction dated 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 the last 90 days, insiders sold 4,500 shares of company stock valued at $554,864. Insiders own 0.27% of the company’s stock.

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.