Shares of Toromont Industries Ltd (TSE:TIH) have received an average rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$73.75.
Several research firms recently issued reports on TIH. Canaccord Genuity lifted their price objective on shares of Toromont Industries from C$67.00 to C$69.00 in a research note on Monday, January 13th. CIBC lifted their price objective on shares of Toromont Industries from C$69.00 to C$75.00 in a research note on Wednesday, January 15th. National Bank Financial boosted their target price on shares of Toromont Industries from C$79.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Royal Bank of Canada boosted their target price on shares of Toromont Industries from C$64.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Finally, TD Securities boosted their target price on shares of Toromont Industries from C$74.00 to C$76.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.
Shares of TIH stock traded up C$0.08 on Monday, hitting C$71.75. The company’s stock had a trading volume of 43,700 shares, compared to its average volume of 84,833. The company has a debt-to-equity ratio of 46.75, a current ratio of 1.63 and a quick ratio of 0.66. Toromont Industries has a fifty-two week low of C$57.41 and a fifty-two week high of C$72.58. The firm’s fifty day moving average price is C$70.07 and its 200-day moving average price is C$66.34. The stock has a market capitalization of $5.85 billion and a price-to-earnings ratio of 20.99.
Toromont Industries (TSE:TIH) last released its quarterly earnings data on Monday, November 4th. The company reported C$0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.95 by C$0.02. The business had revenue of C$975.22 million during the quarter, compared to analyst estimates of C$959.40 million. Analysts predict that Toromont Industries will post 3.932223 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries’s dividend payout ratio is 30.42%.
In other news, Director David Allan Malinauskas sold 5,200 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$70.10, for a total transaction of C$364,520.00. Following the completion of the transaction, the director now owns 2,070 shares of the company’s stock, valued at C$145,107. Also, Senior Officer Paul Randolph Jewer sold 600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of C$70.01, for a total transaction of C$42,006.00. Following the transaction, the insider now directly owns 6,900 shares of the company’s stock, valued at approximately C$483,069. In the last three months, insiders have sold 6,143 shares of company stock valued at $430,772.
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 is involved 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.
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