Toromont Industries (TSE:TIH) Price Target Raised to C$130.00 at Raymond James

Toromont Industries (TSE:TIH) had its price target raised by Raymond James from C$122.00 to C$130.00 in a report issued on Thursday morning,BayStreet.CA reports. They currently have a market perform rating on the stock.

Other research analysts have also issued reports about the company. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Scotiabank lowered their price objective on Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price objective on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. CIBC boosted their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, National Bankshares lowered their price objective on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Stock Up 1.3 %

Shares of TIH stock opened at C$122.91 on Thursday. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The firm has a market cap of C$10.02 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The stock has a 50 day moving average of C$115.34 and a 200-day moving average of C$121.14. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is 31.18%.

Insider Buying and Selling at Toromont Industries

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Company insiders own 0.27% of the company’s stock.

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.