Toromont Industries (TSE:TIH) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Toromont Industries Ltd. (TSE:TIH)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$121.56 and traded as high as C$122.86. Toromont Industries shares last traded at C$122.19, with a volume of 130,354 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TIH. National Bankshares lowered their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. BMO Capital Markets reduced their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Finally, Scotiabank reduced their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy” and an average price target of C$135.00.

Toromont Industries Price Performance

The firm’s 50-day moving average is C$114.59 and its two-hundred day moving average is C$121.56. The company has a market cap of C$10.01 billion, a P/E ratio of 19.49, a PEG ratio of 3.72 and a beta of 0.68. 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 (TSE:TIH) last announced its quarterly earnings results on Monday, November 4th. The company reported C$1.59 earnings per share for the quarter, missing the consensus estimate of C$1.67 by C($0.08). Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Analysts anticipate that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, December 6th. Toromont Industries’s payout ratio is 30.62%.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was bought at an average cost of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is owned by 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.