Toromont Industries (TSE:TIH) Price Target Raised to C$133.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its target price hoisted by stock analysts at BMO Capital Markets from C$130.00 to C$133.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 7.47% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada cut their price objective on Toromont Industries from C$140.00 to C$137.00 and set an “outperform” rating for the company in a research report on Friday. TD Securities decreased their target price on Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating on the stock in a research report on Friday. Scotiabank cut their price target on shares of Toromont Industries from C$133.00 to C$125.00 and set a “sector perform” rating for the company in a report on Friday. Finally, CIBC reduced their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$133.13.

Toromont Industries Stock Performance

TIH stock traded up C$1.48 during trading on Monday, hitting C$123.76. 34,958 shares of the company traded hands, compared to its average volume of 97,862. Toromont Industries has a 1 year low of C$100.81 and a 1 year high of C$135.53. The company has a market cap of C$10.19 billion, a PE ratio of 19.39, a P/E/G ratio of 3.72 and a beta of 0.72. The stock’s 50-day simple moving average is C$128.32 and its 200 day simple moving average is C$119.40. The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, beating the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. The firm had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. On average, equities analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. Also, Director William John Harvey sold 300 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. Over the last three months, insiders have sold 21,700 shares of company stock valued at $2,727,180. Corporate 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.