Toromont Industries Ltd (TIH) Insider Sells C$85,600.00 in Stock

Toromont Industries Ltd (TSE:TIH) insider David Allan Malinauskas sold 1,600 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of C$53.50, for a total transaction of C$85,600.00.

Shares of Toromont Industries Ltd (TSE:TIH) opened at 52.92 on Friday. The firm has a market cap of $4.15 billion and a P/E ratio of 26.09. Toromont Industries Ltd has a 1-year low of $37.59 and a 1-year high of $56.00. The firm’s 50-day moving average is $47.41 and its 200-day moving average is $46.82.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by $0.04. Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. The firm had revenue of $530.93 million during the quarter, compared to analyst estimates of $550.60 million. On average, analysts anticipate that Toromont Industries Ltd will post $2.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, September 7th.

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Several brokerages have recently issued reports on TIH. TD Securities raised their price objective on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. National Bank Financial raised their price objective on shares of Toromont Industries from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 29th. Raymond James Financial, Inc. raised their price objective on shares of Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a research note on Tuesday, August 29th. Scotiabank raised their price objective on shares of Toromont Industries from C$47.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 29th. Finally, Canaccord Genuity raised their price objective on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$53.21.

About Toromont Industries

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

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