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

Toromont Industries Ltd. (TSE:TIH)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$226.01 and last traded at C$227.58, with a volume of 66298 shares trading hands. The stock had previously closed at C$223.92.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets increased their price target on Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th. TD Securities boosted their price objective on Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Scotiabank upped their target price on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce increased their target price on Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Finally, Scotia boosted their price target on shares of Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus price target of C$216.44.

Toromont Industries Price Performance

The stock has a market capitalization of C$18.60 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 3.72 and a beta of 0.96. The business has a fifty day simple moving average of C$211.58 and a 200 day simple moving average of C$190.78. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The company had revenue of C$1.23 billion for the quarter. On average, analysts expect that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Toromont Industries’s payout ratio is currently 33.70%.

Insider Activity

In other news, Director David Allan Malinauskas sold 972 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total value of C$195,955.20. 0.27% of the stock is currently owned by insiders.

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