Toromont Industries (TSE:TIH) Price Target Cut to C$137.00 by Analysts at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its price target cut by Royal Bank of Canada from C$140.00 to C$137.00 in a report issued on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also weighed in on TIH. Canaccord Genuity Group upped their price objective on Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a report on Thursday, February 15th. BMO Capital Markets upped their price target on shares of Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a report on Wednesday, February 14th. National Bankshares lowered their price objective on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating on the stock in a research note on Friday. Raymond James increased their target price on shares of Toromont Industries from C$125.00 to C$135.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Finally, Scotiabank lifted 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 research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$133.13.

Toromont Industries Price Performance

Shares of TIH opened at C$123.64 on Friday. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53. The stock’s fifty day moving average is C$128.24 and its 200-day moving average is C$119.52. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. The firm has a market capitalization of C$10.18 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72.

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

Toromont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.55%. Toromont Industries’s dividend payout ratio is currently 30.09%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. In other news, Director David Allan Malinauskas sold 8,700 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. Also, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total value of C$600,480.00. In the last 90 days, insiders sold 21,700 shares of company stock worth $2,727,180. 0.27% of the stock is owned by corporate 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.