Toromont Industries Ltd. (TSE:TIH) Given Average Rating of “Moderate Buy” by Brokerages

Toromont Industries Ltd. (TSE:TIH) has earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$135.00.

Several equities analysts recently commented on the stock. Raymond James dropped their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Scotiabank dropped their price target on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. BMO Capital Markets cut their price objective on Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. CIBC upped their target price on Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada dropped their target price on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th.

Insider Activity

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Insiders own 0.27% of the company’s stock.

Toromont Industries Stock Up 0.2 %

Shares of TSE TIH opened at C$113.28 on Wednesday. The stock has a 50-day moving average price of C$116.01 and a two-hundred day moving average price of C$121.88. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The company has a market cap of C$9.28 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

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 $0.48 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.69%. Toromont Industries’s dividend payout ratio (DPR) is presently 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.