Toromont Industries Ltd. (TSE:TIH) Receives C$135.00 Average PT from Analysts

Toromont Industries Ltd. (TSE:TIH) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$135.00.

Several brokerages have issued reports on TIH. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Royal Bank of Canada lowered their target price on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. CIBC lifted their price target on shares of Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Finally, Raymond James dropped their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th.

Insider Activity

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average cost 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.

Toromont Industries Price Performance

TIH opened at C$113.28 on Wednesday. The stock has a market cap of C$9.28 billion, a P/E ratio of 18.07, a P/E/G 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 quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The company has a fifty day simple moving average of C$116.01 and a 200 day simple moving average of C$121.88.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.69%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

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.