Royal Bank of Canada Trims Toromont Industries (TIH) Target Price to C$62.00

Toromont Industries (TSE:TIH) had its price target decreased by Royal Bank of Canada from C$64.00 to C$62.00 in a research report report published on Wednesday. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other analysts have also recently issued reports on the company. BMO Capital Markets cut their target price on Toromont Industries from C$72.00 to C$70.00 and set an average rating on the stock in a research note on Wednesday. Raymond James lifted their price objective on Toromont Industries from C$67.00 to C$71.00 and gave the company an outperform rating in a research report on Thursday, July 26th. CIBC lifted their price objective on Toromont Industries from C$61.00 to C$64.00 in a research report on Thursday, July 26th. National Bank Financial lifted their price objective on Toromont Industries from C$63.00 to C$68.00 and gave the company an outperform rating in a research report on Thursday, July 26th. Finally, TD Securities lifted their price objective on Toromont Industries from C$67.00 to C$70.00 and gave the company a buy rating in a research report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Toromont Industries presently has a consensus rating of Buy and a consensus price target of C$66.25.

TSE TIH opened at C$58.72 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 61.43. Toromont Industries has a 1 year low of C$46.24 and a 1 year high of C$68.11.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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