Toromont Industries (TIH) Price Target Cut to C$64.00 by Analysts at Canaccord Genuity

Toromont Industries (TSE:TIH) had its price target decreased by Canaccord Genuity from C$70.00 to C$64.00 in a report published on Wednesday. Canaccord Genuity currently has a buy rating on the stock.

A number of other brokerages have also commented on TIH. Royal Bank of Canada raised their price target on Toromont Industries from C$60.00 to C$65.00 and gave the stock a sector perform rating in a research note on Thursday, July 26th. Raymond James raised 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. National Bank Financial raised 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. TD Securities raised 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. Finally, CIBC raised their price objective on Toromont Industries from C$61.00 to C$64.00 in a research report on Thursday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of C$66.25.

Shares of TIH stock opened at C$58.72 on Wednesday. Toromont Industries has a 52 week low of C$46.24 and a 52 week high of C$68.11. The company has a debt-to-equity ratio of 61.43, a current ratio of 1.64 and a quick ratio of 0.77.

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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Analyst Recommendations for Toromont Industries (TSE:TIH)

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