Toromont Industries (TSE:TIH) Price Target Cut to C$250.00 by Analysts at Canaccord Genuity Group

Toromont Industries (TSE:TIH) had its price target lowered by Canaccord Genuity Group from C$260.00 to C$250.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target would indicate a potential upside of 24.74% from the company’s current price.

Several other equities analysts have also issued reports on TIH. National Bank Financial boosted their price target on Toromont Industries from C$259.00 to C$261.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. BMO Capital Markets raised their price objective on shares of Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their target price on shares of Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. Stifel Nicolaus set a C$250.00 price objective on Toromont Industries and gave the company a “buy” rating in a research note on Wednesday, September 30th. Finally, Royal Bank Of Canada decreased their price objective on Toromont Industries from C$265.00 to C$261.00 and set an “outperform” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$246.60.

Toromont Industries Trading Down 4.3%

Shares of TIH stock traded down C$8.98 during mid-day trading on Wednesday, hitting 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 fifty day simple moving average is C$209.47 and its 200-day simple 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 company has a debt-to-equity ratio of 24.76, a quick ratio of 1.38 and a current ratio of 2.73. The company has a market cap of C$16.35 billion, a PE ratio of 31.91, a P/E/G ratio of 3.72 and a beta of 0.83.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Monday, November 2nd. The company reported C$2.33 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%. The company had revenue of C$1.65 billion for the quarter. As a group, equities research analysts expect that Toromont Industries will post 6.59 earnings per share for the current fiscal 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.