Shares of Toromont Industries Ltd. (TSE:TIH – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Three 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 company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$136.06.
A number of equities research analysts have recently weighed in on TIH shares. Raymond James lifted their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Scotiabank raised their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Finally, CIBC raised their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th.
Check Out Our Latest Report on TIH
Toromont Industries Stock Performance
Toromont Industries Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be given a $0.52 dividend. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, March 7th. Toromont Industries’s payout ratio is currently 31.18%.
Insider Activity at Toromont Industries
In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00. 0.27% of the stock is 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.
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