Toromont Industries (TSE:TIH) Shares Cross Above 200-Day Moving Average of $118.32

Shares of Toromont Industries Ltd. (TSE:TIH) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$118.32 and traded as high as C$130.00. Toromont Industries shares last traded at C$129.77, with a volume of 61,602 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TIH shares. CIBC lifted their price objective on Toromont Industries from C$123.00 to C$130.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on Toromont Industries from C$125.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. National Bankshares set a C$137.00 price objective on Toromont Industries and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Raymond James lifted their price objective on Toromont Industries from C$125.00 to C$135.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, BMO Capital Markets lifted their price objective on Toromont Industries from C$124.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$135.38.

Toromont Industries Trading Down 0.2 %

The firm has a market cap of C$10.71 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The stock has a fifty day simple moving average of C$128.19 and a 200 day simple moving average of C$118.54. 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 posted its earnings results on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. On average, research analysts expect that Toromont Industries Ltd. will post 6.3025012 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, April 4th were issued a $0.48 dividend. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, March 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.09%.

Insider Buying and Selling

In related news, Director William John Harvey sold 300 shares of Toromont Industries stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. Also, Director William John Harvey sold 300 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total value of C$37,770.00. Insiders sold 21,700 shares of company stock valued at $2,727,180 over the last 90 days. Company 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.