Toromont Industries (TSE:TIH) Downgraded to “Hold” at National Bank Financial

Toromont Industries (TSE:TIH) was downgraded by National Bank Financial from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada increased their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. TD Securities lifted their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. National Bankshares lowered Toromont Industries from an “outperform” rating to a “sector perform” rating in a report on Tuesday. Finally, BMO Capital Markets upped their price objective on Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$138.00.

Toromont Industries Stock Down 4.1 %

Shares of TIH stock opened at C$129.14 on Monday. The stock’s fifty day moving average price is C$126.89 and its 200 day moving average price is C$125.03. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The company has a market cap of C$10.58 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth 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 issued its earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. The company had revenue of C$1.36 billion during the quarter, compared to analyst estimates of C$1.19 billion. On average, research analysts expect that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insider Activity at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total transaction of C$169,750.00. In related news, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of Toromont Industries stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. In the last quarter, insiders sold 5,500 shares of company stock valued at $677,864. 0.27% of the stock is owned by insiders.

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.