Toromont Industries (TSE:TIH) had its price objective increased by TD Securities from C$76.00 to C$81.00 in a research note published on Thursday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.
Several other equities analysts have also recently weighed in on TIH. Royal Bank of Canada raised their price objective on Toromont Industries from C$64.00 to C$70.00 and gave the company a sector perform rating in a research note on Wednesday, November 6th. National Bank Financial raised their price objective on Toromont Industries from C$79.00 to C$82.00 and gave the company an outperform rating in a research note on Tuesday, January 7th. Canaccord Genuity raised their price objective on Toromont Industries from C$67.00 to C$69.00 in a research note on Monday, January 13th. CIBC raised their price objective on Toromont Industries from C$69.00 to C$75.00 in a research note on Wednesday, January 15th. Finally, Raymond James restated an outperform rating and set a C$75.00 price objective on shares of Toromont Industries in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of C$75.25.
TSE:TIH traded up C$0.07 during trading hours on Thursday, hitting C$71.39. 87,210 shares of the company traded hands, compared to its average volume of 107,071. The company has a quick ratio of 0.66, a current ratio of 1.63 and a debt-to-equity ratio of 46.75. The firm’s 50-day simple moving average is C$70.83 and its 200-day simple moving average is C$67.08. Toromont Industries has a one year low of C$58.41 and a one year high of C$74.68. The company has a market cap of $5.84 billion and a PE ratio of 20.88.
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 is involved 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.
Read More: What does the Dogs of the Dow mean?
Receive News & Ratings for Toromont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries and related companies with MarketBeat.com's FREE daily email newsletter.