Brokerages Set Toromont Industries Ltd (TIH) Target Price at $55.94

Shares of Toromont Industries Ltd (TSE:TIH) have been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$55.94.

Several research firms have issued reports on TIH. BMO Capital Markets restated a “market perform” rating and set a C$58.00 target price on shares of Toromont Industries in a research note on Monday, October 16th. National Bank Financial restated a “sector perform” rating and set a C$60.00 target price on shares of Toromont Industries in a research note on Monday, October 23rd. Scotiabank increased their price objective on shares of Toromont Industries from C$47.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 29th. TD Securities increased their price objective on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity increased their price objective on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th.

In other Toromont Industries news, insider David Allan Malinauskas sold 5,400 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of C$57.60, for a total transaction of C$311,040.00. Also, Director Randall Casson sold 4,300 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of C$57.25, for a total transaction of C$246,175.00. In the last 90 days, insiders have sold 35,348 shares of company stock worth $1,936,950.

Shares of Toromont Industries (TSE TIH) traded down C$0.32 during mid-day trading on Thursday, reaching C$57.20. 85,800 shares of the company traded hands, compared to its average volume of 116,135. Toromont Industries has a one year low of C$39.01 and a one year high of C$58.44.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://weekherald.com/2017/11/14/brokerages-set-toromont-industries-ltd-tih-target-price-at-55-94.html.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

Analyst Recommendations for Toromont Industries (TSE:TIH)

Receive News & Ratings for Toromont Industries Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply