BMO Capital Markets Cuts Toromont Industries (TSE:TIH) Price Target to C$140.00

Toromont Industries (TSE:TIH) had its price objective trimmed by BMO Capital Markets from C$143.00 to C$140.00 in a report published on Wednesday morning, BayStreet.CA reports.

Several other equities analysts also recently issued reports on TIH. Raymond James reduced their price objective on Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday. National Bank Financial cut Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. TD Securities lifted their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. Finally, Scotiabank lowered their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries currently has a consensus rating of “Hold” and an average price target of C$135.00.

Toromont Industries Trading Up 0.5 %

Shares of TSE:TIH opened at C$119.56 on Wednesday. Toromont Industries has a fifty-two week low of C$107.82 and a fifty-two week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The company has a market cap of C$9.79 billion, a PE ratio of 19.07, a P/E/G ratio of 3.72 and a beta of 0.68. The company’s 50-day moving average price is C$127.15 and its 200 day moving average price is C$124.49.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insider Activity

In related news, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total transaction of C$169,750.00. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total transaction of C$169,750.00. In the last quarter, insiders sold 4,500 shares of company stock worth $554,864. 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.