Toromont Industries (TSE:TIH – Get Free Report) had its price objective decreased by equities research analysts at CIBC from C$130.00 to C$128.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 4.68% from the company’s previous close.
TIH has been the topic of a number of other research reports. Scotiabank increased their price target on shares of Toromont Industries from C$125.00 to C$133.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. TD Securities decreased their price target on shares of Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating on the stock in a report on Friday. Raymond James decreased their price target on shares of Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating on the stock in a report on Friday. Royal Bank of Canada dropped their price objective on shares of Toromont Industries from C$140.00 to C$137.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group raised their target price on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$132.75.
Check Out Our Latest Stock Report on TIH
Toromont Industries Price Performance
Toromont Industries (TSE:TIH – Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.73 by C$0.13. The business had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. As a group, equities analysts predict that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.
Insider Transactions at Toromont Industries
In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total transaction of C$375,000.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 1,900 shares of Toromont Industries stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of C$126.45, for a total transaction of C$240,255.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total transaction of C$375,000.00. Over the last three months, insiders have sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is currently owned by company insiders.
Toromont Industries Company Profile
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 engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various 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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