Toromont Industries (TIH) Sets New 1-Year High at $58.53

Toromont Industries Ltd (TSE:TIH) hit a new 52-week high during trading on Friday . The company traded as high as C$58.53 and last traded at C$57.95, with a volume of 120316 shares traded. The stock had previously closed at C$54.35.

TIH has been the topic of a number of research analyst reports. Raymond James Financial raised their price objective on shares of Toromont Industries from C$58.50 to C$63.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. CIBC raised their price objective on shares of Toromont Industries from C$59.00 to C$60.00 in a report on Monday, January 15th. Scotiabank raised their price objective on shares of Toromont Industries from C$53.00 to C$59.00 and gave the stock a “sector perform” rating in a report on Thursday, November 9th. Royal Bank of Canada set a C$58.00 price objective on shares of Toromont Industries and gave the stock a “sector perform” rating in a report on Monday, February 5th. Finally, National Bank Financial raised their price objective on shares of Toromont Industries from C$60.00 to C$63.00 and gave the stock a “sector perform” rating in a report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of C$60.50.

The firm has a market capitalization of $4,410.00, a price-to-earnings ratio of 26.51 and a beta of 0.82.

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About Toromont Industries

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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