Toromont Industries (TSE:TIH) Price Target Raised to C$133.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price objective upped by BMO Capital Markets from C$130.00 to C$133.00 in a report published on Monday morning, BayStreet.CA reports.

A number of other brokerages have also recently commented on TIH. Raymond James decreased their price target on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. National Bankshares dropped their price target on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a research report on Friday, May 3rd. CIBC decreased their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Royal Bank of Canada dropped their target price on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, TD Securities reduced their price target on Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries has a consensus rating of Moderate Buy and an average price target of C$133.13.

Toromont Industries Stock Performance

Toromont Industries stock opened at C$124.19 on Monday. Toromont Industries has a fifty-two week low of C$100.81 and a fifty-two week high of C$135.53. The firm’s fifty day moving average price is C$128.14 and its 200-day moving average price is C$119.68. The stock has a market cap of C$10.22 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, beating the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The firm had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.19 billion. On average, equities research analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, June 6th. Toromont Industries’s dividend payout ratio is 30.09%.

Insider Buying and Selling at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total transaction of C$375,000.00. In related news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total transaction of C$375,000.00. Over the last quarter, insiders sold 21,700 shares of company stock valued at $2,727,180. 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.