Toromont Industries (TSE:TIH) Shares Cross Above 200-Day Moving Average – Should You Sell?

Toromont Industries Ltd. (TSE:TIH) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$120.81 and traded as high as C$121.32. Toromont Industries shares last traded at C$120.59, with a volume of 83,029 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TIH. Royal Bank of Canada lifted their target price on Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Raymond James lifted their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. National Bankshares raised their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets lifted their price target on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$136.06.

Toromont Industries Stock Down 0.0 %

The company’s 50-day simple moving average is C$117.49 and its 200 day simple moving average is C$120.79. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a market cap of C$9.83 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 annualized dividend and a dividend yield of 1.59%. Toromont Industries’s dividend payout ratio (DPR) is presently 31.18%.

Insider Buying and Selling

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is owned by corporate 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.