Toromont Industries (TSE:TIH) Price Target Raised to C$238.00

Toromont Industries (TSE:TIH) had its price objective upped by analysts at Scotiabank from C$229.00 to C$238.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 5.61% from the stock’s previous close.

A number of other analysts also recently issued reports on TIH. Scotia raised their price objective on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased their target price on shares of Toromont Industries from C$234.00 to C$256.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. National Bank Financial lifted their price target on shares of Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Raymond James Financial upgraded shares of Toromont Industries from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$190.00 to C$235.00 in a report on Thursday, June 18th. Finally, Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$200.00 to C$235.00 in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$232.00.

Toromont Industries Trading Up 1.1%

Shares of TSE TIH traded up C$2.40 during midday trading on Tuesday, reaching C$225.36. 171,159 shares of the stock were exchanged, compared to its average volume of 261,457. The stock has a market capitalization of C$18.37 billion, a P/E ratio of 35.83, a PEG ratio of 3.72 and a beta of 0.98. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17. The company has a 50 day simple moving average of C$221.65 and a 200 day simple moving average of C$200.71. Toromont Industries has a twelve month low of C$124.56 and a twelve month high of C$243.50.

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

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.