Brokerages Set Toromont Industries Ltd. (TSE:TIH) Target Price at C$135.00

Toromont Industries Ltd. (TSE:TIH) has received a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$135.00.

A number of analysts have commented on the company. BMO Capital Markets decreased their target price on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. Raymond James decreased their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. National Bankshares lowered their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, TD Securities lifted their price objective on 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.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 insiders.

Toromont Industries Price Performance

TIH stock opened at C$116.59 on Tuesday. The firm has a 50 day moving average of C$126.79 and a 200-day moving average of C$123.88. The company has a market cap of C$9.55 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 12-month low of C$109.50 and a 12-month high of C$135.53.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.65%. Toromont Industries’s payout ratio is currently 30.62%.

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.