Toromont Industries Ltd. (TSE:TIH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$136.06.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets increased their target price on Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday, February 12th. CIBC raised their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada raised their price objective on Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. National Bankshares raised their price objective on Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group raised their price objective on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th.

Insider Buying and Selling at Toromont Industries

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of C$111.45 per share, with a total value of C$501,525.00. Company insiders own 0.27% of the company’s stock.

Toromont Industries Price Performance

Shares of TSE TIH opened at C$121.00 on Thursday. The firm has a market cap of C$9.87 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. Toromont Industries has a 1-year low of C$109.83 and a 1-year high of C$135.53. The business’s 50 day moving average is C$117.17 and its 200-day moving average is C$120.81.

Toromont Industries Dividend Announcement

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

About Toromont Industries

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.