Toromont Industries (TSE:TIH) Sets New 12-Month High – Still a Buy?

Toromont Industries Ltd. (TSE:TIH) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$181.81 and last traded at C$181.75, with a volume of 18473 shares traded. The stock had previously closed at C$179.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. CIBC raised their target price on Toromont Industries from C$168.00 to C$172.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. TD Securities boosted their target price on shares of Toromont Industries from C$179.00 to C$180.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. National Bankshares upped their target price on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada raised their price target on shares of Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of C$172.88.

Toromont Industries Stock Performance

The stock has a market cap of C$14.77 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 3.72 and a beta of 0.58. The company’s 50 day simple moving average is C$165.91 and its 200 day simple moving average is C$153.85. 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 (TSE:TIH) last issued its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 earnings per share for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The company had revenue of C$1.31 billion during the quarter. On average, equities research analysts anticipate that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were given a dividend of $0.52 per share. The ex-dividend date was Friday, December 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Toromont Industries’s dividend payout ratio (DPR) is 33.72%.

Insider Transactions at Toromont Industries

In related news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the transaction, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. The trade was a 29.39% decrease in their position. Company insiders own 0.27% of the company’s stock.

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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.