Toromont Industries (TSE:TIH) Given New C$140.00 Price Target at TD Securities

Toromont Industries (TSE:TIH) had its price target trimmed by TD Securities from C$145.00 to C$140.00 in a research note released on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. Canaccord Genuity Group raised 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. Royal Bank of Canada raised their price target on shares of Toromont Industries from C$125.00 to C$140.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. National Bankshares set a C$137.00 price objective on shares of Toromont Industries and gave the company an outperform rating in a report on Thursday, February 15th. BMO Capital Markets upped their price target on 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. Finally, Raymond James upped their price objective on shares of Toromont Industries from C$125.00 to C$135.00 and gave the company an outperform rating in a 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 stock. According to MarketBeat.com, Toromont Industries currently has a consensus rating of Moderate Buy and an average price target of C$132.75.

Toromont Industries Stock Down 0.4 %

Toromont Industries stock opened at C$122.28 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The firm has a market cap of C$10.06 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The business’s 50-day moving average price is C$128.32 and its 200 day moving average price is C$119.40. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53.

Toromont Industries (TSE:TIH) last released its quarterly 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 net margin of 11.57% and a return on equity of 21.13%. The firm had revenue of C$1.23 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. As a group, sell-side analysts anticipate that Toromont Industries will post 6.3025012 earnings per share for the current year.

Toromont Industries Dividend Announcement

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

Insider Transactions at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total value of C$375,000.00. In other Toromont Industries news, Director William John Harvey sold 300 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total transaction of C$37,770.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$125.00, for a total transaction of C$375,000.00. Over the last ninety days, insiders have sold 21,700 shares of company stock worth $2,727,180. 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.