Toromont Industries (TSE:TIH) Price Target Raised to C$139.00 at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its target price raised by Royal Bank of Canada from C$138.00 to C$139.00 in a report published on Thursday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research analysts also recently commented on TIH. National Bankshares lowered their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. CIBC increased their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James increased their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Stock Up 1.3 %

Shares of TSE:TIH opened at C$122.91 on Thursday. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The company has a 50-day moving average price of C$115.34 and a 200 day moving average price of C$121.14. The company has a market cap of C$10.02 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries’s payout ratio is 31.18%.

Insider Transactions at Toromont Industries

In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost 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.

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.