Toromont Industries (TSE:TIH) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Toromont Industries Ltd. (TSE:TIH) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$121.56 and traded as high as C$122.86. Toromont Industries shares last traded at C$122.19, with a volume of 130,354 shares trading hands.

Wall Street Analyst Weigh In

TIH has been the subject of a number of recent analyst reports. CIBC boosted their target price on shares of Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Scotiabank lowered their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Finally, Raymond James lowered their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$135.00.

Toromont Industries Price Performance

The firm has a market capitalization of C$10.01 billion, a P/E ratio of 19.49, a P/E/G ratio of 3.72 and a beta of 0.68. 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’s fifty day simple moving average is C$114.59 and its 200 day simple moving average is C$121.56.

Toromont Industries (TSE:TIH) last announced its earnings results on Monday, November 4th. The company reported C$1.59 EPS for the quarter, missing analysts’ consensus estimates of C$1.67 by C($0.08). Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, equities research analysts predict that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Activity

In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average price of C$111.45 per share, for a total transaction of C$501,525.00. Corporate 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.