Toromont Industries (TSE:TIH) PT Lowered to C$125.00

Toromont Industries (TSE:TIH) had its price objective trimmed by Scotiabank from C$133.00 to C$125.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other analysts have also weighed in on the company. National Bankshares lowered their target price on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a report on Friday. TD Securities dropped their price objective on Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research report on Friday. CIBC cut their target price on Toromont Industries from C$130.00 to C$128.00 and set a neutral rating on the stock in a research note on Friday. Canaccord Genuity Group increased their price target on shares of 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. Finally, Raymond James cut their price objective on shares of Toromont Industries from C$135.00 to C$132.00 and set a market perform rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$132.75.

Toromont Industries Stock Down 0.4 %

Shares of TSE:TIH 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 business’s 50 day moving average is C$128.32 and its 200 day moving average is C$119.40. The stock has a market cap of C$10.06 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. 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 posted its quarterly 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. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. The business had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Sell-side analysts predict that Toromont Industries will post 6.3025012 EPS 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 paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is 30.09%.

Insider Activity

In related news, Director David Allan Malinauskas sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. Over the last three months, insiders have sold 21,700 shares of company stock valued at $2,727,180. Company insiders own 0.27% of the company’s stock.

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.