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.
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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.
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