Toromont Industries (TSE:TIH) Upgraded by National Bank Financial to Strong-Buy Rating

Toromont Industries (TSE:TIH) was upgraded by stock analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a research note issued on Sunday,Zacks.com reports.

Several other research firms also recently weighed in on TIH. National Bankshares reduced their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. 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, November 6th. BMO Capital Markets cut their target price on shares of Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday, November 6th. Scotiabank reduced their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Finally, CIBC upped their price target on Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$135.00.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$113.27 on Friday. The stock has a market cap of C$9.28 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. 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 business has a 50-day simple moving average of C$121.26 and a 200-day simple moving average of C$122.52. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 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.