Toromont Industries (TSE:TIH) Raised to “Strong-Buy” at Stifel Nicolaus

Toromont Industries (TSE:TIH – Get Free Report) was upgraded by equities research analysts at Stifel Nicolaus to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research analysts have also issued reports on the company. BMO Capital Markets increased their price target on Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Raymond James Financial boosted their price objective on Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce upped their target price on Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. National Bank Financial increased their target price on Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Scotiabank raised shares of Toromont Industries from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$238.00 to C$239.00 in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy” and a consensus price target of C$247.20.

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Toromont Industries Price Performance

Shares of TSE TIH opened at C$226.98 on Monday. The firm has a market capitalization of C$18.51 billion, a P/E ratio of 36.14, a P/E/G ratio of 3.72 and a beta of 0.94. The firm’s 50-day moving average price is C$211.03 and its 200-day moving average price is C$214.15. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. Toromont Industries has a 1-year low of C$152.68 and a 1-year high of C$243.50.

Toromont Industries (TSE:TIH – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported C$2.20 EPS for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%.The company had revenue of C$1.60 billion during the quarter. Equities research analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

About Toromont Industries

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Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.

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