Toromont Industries (TSE:TIH) PT Lowered to C$140.00 at TD Securities

Toromont Industries (TSE:TIH) had its target price reduced by TD Securities from C$145.00 to C$140.00 in a report published on Friday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on TIH. Scotiabank lifted their price target on shares of Toromont Industries from C$125.00 to C$133.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. Canaccord Genuity Group lifted their target price on Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a research report on Thursday, February 15th. Raymond James increased their price target on Toromont Industries from C$125.00 to C$135.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. National Bankshares set a C$137.00 price objective on Toromont Industries and gave the company an outperform rating in a report on Thursday, February 15th. Finally, CIBC increased their target price on shares of Toromont Industries from C$123.00 to C$130.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Toromont Industries has an average rating of Moderate Buy and an average price target of C$132.75.

Toromont Industries Stock Down 0.4 %

Shares of TSE TIH opened at C$122.28 on Friday. Toromont Industries has a 1 year low of C$100.81 and a 1 year high of C$135.53. The firm has a 50-day simple moving average of C$128.32 and a two-hundred day simple moving average of C$119.24. The company has a market cap of C$10.06 billion, a P/E ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72. The company has a debt-to-equity ratio of 25.41, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The company had revenue of C$1.23 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Research analysts anticipate that Toromont Industries will post 6.3025012 earnings per share for the current year.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a $0.48 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.92 annualized dividend and a yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.09%.

Insider Buying and Selling at Toromont Industries

In other news, Director William John Harvey sold 300 shares of Toromont Industries stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total value of C$37,770.00. In related news, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. Also, Director William John Harvey sold 300 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total value of C$37,770.00. Over the last ninety days, insiders sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is currently owned by insiders.

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 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.