National Bankshares Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price objective upped by equities research analysts at National Bankshares from C$126.00 to C$133.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ target price points to a potential upside of 8.09% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. BMO Capital Markets increased their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a report on Thursday. CIBC raised their price target on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Scotiabank raised their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and an average target price of C$136.28.

Toromont Industries Price Performance

TSE:TIH traded up C$1.76 during trading hours on Thursday, reaching C$123.05. 55,978 shares of the company were exchanged, compared to its average volume of 150,807. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The firm has a market cap of C$10.04 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. The stock’s 50-day moving average is C$115.34 and its 200-day moving average is C$121.14.

Insiders Place Their Bets

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