Toromont Industries Ltd. (TSE:TIH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$143.50.

Several research analysts have recently issued reports on TIH shares. BMO Capital Markets raised their target price on shares of Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday, July 30th. TD Securities raised their target price on shares of Toromont Industries from C$153.00 to C$154.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Raymond James Financial lifted their price objective on shares of Toromont Industries from C$122.00 to C$125.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Scotiabank lifted their price objective on shares of Toromont Industries from C$132.00 to C$140.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Finally, CIBC boosted their target price on shares of Toromont Industries from C$129.00 to C$148.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st.

Insider Transactions at Toromont Industries

In related news, Director David Allan Malinauskas sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$146.10, for a total transaction of C$876,600.00. Also, insider Mike Cuddy sold 7,500 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the transaction, the insider directly owned 36,955 shares of the company’s stock, valued at approximately C$5,395,430. The trade was a 16.87% decrease in their position. Insiders own 0.27% of the company’s stock.

Toromont Industries Stock Up 0.4%

TIH opened at C$154.97 on Friday. Toromont Industries has a twelve month low of C$107.32 and a twelve month high of C$156.56. The firm’s 50-day simple moving average is C$145.11 and its 200-day simple moving average is C$127.60. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a market cap of C$12.61 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.72 and a beta of 0.65.

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 5th. Toromont Industries’s payout ratio is currently 33.84%.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.