Toromont Industries (TSE:TIH) Given New C$132.00 Price Target at Scotiabank

Toromont Industries (TSE:TIH) had its price objective decreased by Scotiabank from C$136.00 to C$132.00 in a report issued on Wednesday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on TIH. Royal Bank of Canada lifted their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. National Bankshares lowered their price target on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. National Bank Financial lowered Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. TD Securities lifted their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets increased their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$135.00.

Toromont Industries Stock Up 0.5 %

TSE TIH opened at C$119.56 on Wednesday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The company has a market cap of C$9.79 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.72 and a beta of 0.68. The company has a 50 day moving average of C$127.15 and a 200-day moving average of C$124.49. Toromont Industries has a 1-year low of C$107.82 and a 1-year high of C$135.53.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Activity

In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. In the last three months, insiders have sold 4,500 shares of company stock valued at $554,864. 0.27% of the stock is currently owned by insiders.

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.