Toromont Industries (TSE:TIH) Given New C$143.00 Price Target at BMO Capital Markets

Toromont Industries (TSE:TIH) had its target price lifted by BMO Capital Markets from C$136.00 to C$143.00 in a research note released on Friday morning, BayStreet.CA reports.

TIH has been the topic of several other reports. National Bankshares increased their price target on Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Scotiabank set a C$136.00 price target on shares of Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. TD Securities increased 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. Finally, Royal Bank of Canada boosted their target price on 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Toromont Industries has an average rating of “Moderate Buy” and an average target price of C$138.00.

Toromont Industries Trading Up 1.1 %

TIH opened at C$133.62 on Friday. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53. The company has a fifty day moving average of C$126.48 and a 200-day moving average of C$125.00. The stock has a market cap of C$10.94 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.53 by C$0.11. The firm had revenue of C$1.36 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. On average, sell-side analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insiders Place Their Bets

In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director Peter James Blake purchased 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of C$122.53 per share, with a total value of C$36,758.01. Insiders have sold a total of 5,500 shares of company stock valued at $677,864 in the last 90 days. 0.27% of the stock is currently owned by corporate 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.