Toromont Industries (TSE:TIH) PT Raised to C$142.00 at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its target price hoisted by Royal Bank of Canada from C$137.00 to C$142.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on the company. CIBC reduced their target price on Toromont Industries from C$130.00 to C$128.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Raymond James reduced their target price on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating on the stock in a report on Friday, May 3rd. National Bankshares reduced their target price on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Scotiabank cut their price target on Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating on the stock in a research note on Friday, May 3rd. Finally, BMO Capital Markets upped their price target on Toromont Industries from C$133.00 to C$136.00 in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of C$135.75.

Toromont Industries Stock Down 1.0 %

TIH stock opened at C$124.46 on Thursday. Toromont Industries has a fifty-two week low of C$100.81 and a fifty-two week high of C$135.53. The business’s 50 day moving average price is C$121.75 and its two-hundred day moving average price is C$123.87. The company has a debt-to-equity ratio of 24.51, a quick ratio of 1.38 and a current ratio of 2.65. The company has a market capitalization of C$10.23 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 3.72 and a beta of 0.73.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 6th will be given a $0.48 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.92 annualized dividend and a yield of 1.54%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.77%.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Peter James Blake acquired 300 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of C$122.53 per share, with a total value of C$36,758.01. 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.