Raymond James Issues Pessimistic Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its target price cut by research analysts at Raymond James from C$132.00 to C$122.00 in a report released on Wednesday, BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 0.96% from the company’s current price.

A number of other equities research analysts have also weighed in on TIH. BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Scotiabank lowered their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. National Bankshares reduced their price objective on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday. National Bank Financial cut Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada decreased their price target on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Price Performance

TIH stock traded up C$1.83 during mid-day trading on Wednesday, hitting C$120.84. 238,672 shares of the stock were exchanged, compared to its average volume of 106,025. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The stock has a market capitalization of C$9.90 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 3.72 and a beta of 0.68. The business has a fifty day moving average price of C$127.23 and a 200 day moving average price of C$124.56. Toromont Industries has a 12 month low of C$107.82 and a 12 month high of C$135.53.

Insider Buying and Selling

In other Toromont Industries 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 value of C$75,114.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Senior Officer Jennifer Cochrane sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of C$123.00, for a total value of C$123,000.00. Insiders have sold 5,500 shares of company stock worth $677,864 in the last 90 days. 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.