CIBC Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its target price increased by analysts at CIBC from C$129.00 to C$131.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential upside of 6.46% from the company’s previous close.

Several other research analysts also recently commented on the stock. Raymond James decreased their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. National Bankshares reduced their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, Scotiabank reduced their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and an average target price of C$136.28.

Toromont Industries Trading Up 1.5 %

Shares of TSE TIH traded up C$1.76 during mid-day trading on Thursday, hitting C$123.05. The stock had a trading volume of 55,978 shares, compared to its average volume of 150,807. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53. The business has a 50 day moving average price of C$115.34 and a two-hundred day moving average price of C$121.14. The firm has a market cap of C$10.04 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Insider Activity

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 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.