Toromont Industries (TSE:TIH) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Toromont Industries (TSE:TIH) from a hold rating to a strong-buy rating in a report issued on Sunday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. CIBC upped their price objective on shares of Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Scotiabank reduced their price target on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. BMO Capital Markets lowered their price objective on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday, November 6th. Royal Bank of Canada cut their target price on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Finally, National Bankshares decreased their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$135.00.

Toromont Industries Trading Up 1.5 %

TIH opened at C$113.27 on Friday. The firm’s 50 day moving average is C$121.26 and its 200-day moving average is C$122.52. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The firm has a market capitalization of C$9.28 billion, a P/E ratio of 18.07, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, January 6th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.70%. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is owned by corporate insiders.

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.