Toromont Industries (TSE:TIH) Sets New 12-Month Low – Time to Sell?

Toromont Industries Ltd. (TSE:TIH) shares reached a new 52-week low on Friday . The stock traded as low as C$112.21 and last traded at C$112.33, with a volume of 39522 shares trading hands. The stock had previously closed at C$112.44.

Analyst Ratings Changes

Several research analysts have commented on TIH shares. BMO Capital Markets dropped their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Raymond James dropped their price target on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Scotiabank cut their price target on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Royal Bank of Canada decreased their price objective on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Finally, National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$135.00.

Toromont Industries Price Performance

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 market capitalization of C$9.17 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The firm’s 50 day simple moving average is C$123.25 and its 200 day simple moving average is C$122.90.

Toromont Industries Announces Dividend

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 dividend of $0.48 per share. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of ∞. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Buying and Selling

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. 0.27% of the stock is currently owned by corporate 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.