Toromont Industries (TSE:TIH – Get Free Report) had its price objective upped by equities research analysts at BMO Capital Markets from C$247.00 to C$248.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 16.39% from the stock’s current price.
Other research analysts have also issued research reports about the stock. National Bank Financial lifted their price target on shares of Toromont Industries from C$259.00 to C$261.00 and gave the company an “outperform” rating in a research note on Thursday. Canadian Imperial Bank of Commerce raised their price objective on shares of Toromont Industries from C$240.00 to C$242.00 in a report on Thursday. Scotia boosted their price objective on shares of Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Raymond James Financial raised shares of Toromont Industries from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$190.00 to C$235.00 in a research note on Thursday, June 18th. Finally, Scotiabank increased their target price on Toromont Industries from C$229.00 to C$238.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus price target of C$246.89.
Read Our Latest Stock Report on TIH
Toromont Industries Stock Up 3.0%
Toromont Industries (TSE:TIH – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The business had revenue of C$1.60 billion during the quarter. As a group, research analysts forecast that Toromont Industries will post 6.5892495 EPS for the current fiscal year.
Toromont Industries Company Profile
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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