Toromont Industries Ltd. (TSE:TIH) Receives C$153.00 Consensus PT from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$153.00.

A number of research analysts recently weighed in on the stock. National Bankshares lifted their target price on shares of Toromont Industries from C$140.00 to C$164.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. CIBC boosted their price target on shares of Toromont Industries from C$148.00 to C$168.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Scotiabank boosted their price target on shares of Toromont Industries from C$140.00 to C$171.00 in a research note on Friday, October 17th. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday, July 30th. Finally, TD Securities boosted their price target on shares of Toromont Industries from C$154.00 to C$179.00 in a research note on Friday, October 17th.

Insider Buying and Selling at Toromont Industries

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

Toromont Industries Stock Down 0.8%

TIH opened at C$157.45 on Tuesday. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$163.12. The firm’s fifty day moving average is C$152.39 and its 200 day moving average is C$133.94. The stock has a market cap of C$12.81 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 3.72 and a beta of 0.64.

Toromont Industries Dividend Announcement

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

About Toromont Industries

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.