National Bankshares Cuts Toromont Industries (TSE:TIH) Price Target to C$132.00

Toromont Industries (TSE:TIH) had its price objective cut by National Bankshares from C$137.00 to C$132.00 in a report published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

TIH has been the subject of a number of other reports. Raymond James raised their price objective 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. BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Canaccord Genuity Group upped their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a research note on Thursday, February 15th. CIBC lifted their target price on shares of Toromont Industries from C$123.00 to C$130.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Scotiabank upped 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 note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$132.75.

Toromont Industries Trading Down 0.4 %

Toromont Industries stock opened at C$122.28 on Friday. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. 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$10.06 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 3.72 and a beta of 0.72. The company has a 50 day moving average price of C$128.32 and a 200 day moving average price of C$119.40.

Toromont Industries (TSE:TIH) last released its earnings results 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 analyst estimates of C$1.19 billion. Research analysts forecast that Toromont Industries will post 6.3025012 EPS for the current year.

Toromont Industries Announces Dividend

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

Insider Buying and Selling

In other Toromont Industries news, Director William John Harvey sold 300 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total transaction of C$37,770.00. In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. Also, Director William John Harvey sold 300 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. Over the last three months, insiders sold 21,700 shares of company stock worth $2,727,180. Corporate insiders own 0.27% of the company’s stock.

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.