Toromont Industries (TSE:TIH) Price Target Cut to C$128.00 by Analysts at CIBC

Toromont Industries (TSE:TIH) had its price target cut by CIBC from C$130.00 to C$128.00 in a research report report published on Friday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the company. National Bankshares reduced their price target on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a research report on Friday. BMO Capital Markets lifted their target price on Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Raymond James cut their price objective on shares of Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a research report on Friday. Royal Bank of Canada decreased their target price on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating on the stock in a report on Friday. Finally, TD Securities cut their price target on shares of Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Toromont Industries presently has an average rating of Moderate Buy and an average price target of C$133.13.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$123.64 on Friday. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The stock has a market cap of C$10.18 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The stock’s fifty day simple moving average is C$128.24 and its two-hundred day simple moving average is C$119.52. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41.

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

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.55%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In related news, Director William John Harvey sold 300 shares of Toromont Industries stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total value of C$37,770.00. In other news, Director William John Harvey sold 300 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total transaction of C$37,770.00. Also, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Over the last 90 days, insiders sold 21,700 shares of company stock worth $2,727,180. 0.27% of the stock is currently owned by insiders.

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.