Toromont Industries (TSE:TIH) Upgraded to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of Toromont Industries (TSE:TIH) from a hold rating to a strong-buy rating in a report released on Sunday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Raymond James dropped their price target on Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. National Bankshares dropped their price objective on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. CIBC upped their target price on shares of Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. BMO Capital Markets lowered their price target on shares of Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and an average price target of C$135.00.

Toromont Industries Stock Up 1.5 %

Shares of TSE TIH opened at C$113.27 on Friday. The firm’s 50-day moving average is C$121.26 and its two-hundred day moving average is C$122.52. The company has a market capitalization of C$9.28 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be issued a $0.48 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.70%. Toromont Industries’s payout ratio is 30.62%.

Insider Buying and Selling

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of Toromont Industries stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is currently owned by company 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.