Toromont Industries (TSE:TIH) Stock Price Target Lowered at National Bank Financial

Toromont Industries (TSE:TIH) had its target price reduced by analysts at National Bank Financial from C$261.00 to C$254.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial‘s price objective would indicate a potential upside of 26.73% from the company’s previous close.

TIH has been the topic of a number of other research reports. Stifel Nicolaus set a C$250.00 price target on shares of Toromont Industries and gave the company a “buy” rating in a research note on Wednesday, September 30th. Canadian Imperial Bank of Commerce raised their price objective on shares of Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. Raymond James Financial boosted their price objective on Toromont Industries from C$235.00 to C$250.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group reduced their price objective on Toromont Industries from C$260.00 to C$250.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Scotiabank upped their target price on Toromont Industries from C$239.00 to C$244.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$246.60.

Toromont Industries Stock Performance

TIH traded down C$8.98 during trading hours on Wednesday, reaching C$200.42. The company’s stock had a trading volume of 232,629 shares, compared to its average volume of 280,274. The company’s 50-day moving average is C$209.47 and its 200-day moving average is C$209.53. Toromont Industries has a 52 week low of C$155.85 and a 52 week high of C$243.50. The firm has a market cap of C$16.35 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 3.72 and a beta of 0.83. The company has a debt-to-equity ratio of 24.76, a quick ratio of 1.38 and a current ratio of 2.73.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Monday, November 2nd. The company reported C$2.33 EPS for the quarter. The firm had revenue of C$1.65 billion during the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. On average, equities analysts forecast that Toromont Industries will post 6.59 EPS 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.