Toromont Industries Ltd. (TSE:TIH) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$137.13.

Several research firms have recently weighed in on TIH. TD Securities lifted their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$133.00 to C$136.00 in a research note on Wednesday, July 24th. Royal Bank of Canada increased their target price on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Scotiabank set a C$136.00 price target on Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Finally, National Bankshares boosted their price objective on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st.

Insider Buying and Selling at Toromont Industries

In related news, Director Peter James Blake purchased 300 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of C$122.53 per share, with a total value of C$36,758.01. In other news, Director Peter James Blake acquired 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders have sold a total of 5,500 shares of company stock valued at $677,864 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Price Performance

Toromont Industries stock opened at C$132.23 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The business’s 50 day simple moving average is C$126.29 and its 200 day simple moving average is C$124.98. Toromont Industries has a 12 month low of C$100.81 and a 12 month high of C$135.53. The company has a market cap of C$10.83 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The firm had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Sell-side analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.48 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.45%. Toromont Industries’s dividend payout ratio is currently 30.62%.

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.