Brokerages Set Toromont Industries Ltd. (TSE:TIH) Target Price at C$137.13

Toromont Industries Ltd. (TSE:TIH) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$137.13.

Several equities analysts recently commented on TIH shares. Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. National Bankshares raised their price objective on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. TD Securities boosted 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. BMO Capital Markets increased their target price on Toromont Industries from C$133.00 to C$136.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price target on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st.

Toromont Industries Trading Down 0.4 %

Shares of TIH opened at C$130.66 on Monday. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The firm has a market cap of C$10.70 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 3.72 and a beta of 0.67. The business’s fifty day moving average is C$124.86 and its 200-day moving average is C$124.68.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. The firm had revenue of C$1.36 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. Equities analysts anticipate that Toromont Industries will post 6.5845 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, September 6th. Toromont Industries’s payout ratio is presently 30.62%.

Insiders Place Their Bets

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