Toromont Industries Ltd. (TSE:TIH) Receives Average Recommendation of “Moderate Buy” from Analysts

Toromont Industries Ltd. (TSE:TIH) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$137.13.

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price target on Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. TD Securities increased their target price on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. National Bankshares lifted their price target on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada boosted their target price on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

Toromont Industries Price Performance

Toromont Industries stock opened at C$130.66 on Monday. The business has a 50 day simple moving average of C$124.75 and a 200 day simple moving average of C$124.64. 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 company has a market capitalization of C$10.70 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 3.72 and a beta of 0.67. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53.

Toromont Industries (TSE:TIH) last issued its earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, beating the consensus estimate of C$1.53 by C$0.11. The company had revenue of C$1.36 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. On average, sell-side analysts forecast that Toromont Industries will post 6.5845 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd will be issued a $0.48 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.92 annualized dividend and a yield of 1.47%. Toromont Industries’s dividend payout ratio is currently 30.62%.

Insider Buying and Selling at Toromont Industries

In related news, Director Peter James Blake acquired 300 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of C$122.53 per share, with a total value of C$36,758.01. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director Peter James Blake acquired 300 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of C$122.53 per share, with a total value of C$36,758.01. Over the last ninety days, insiders have sold 5,500 shares of company stock valued at $677,864. 0.27% of the stock is currently owned by insiders.

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.