Shares of Toromont Industries Ltd (TSE:TIH) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$70.00.
Several equities research analysts recently commented on the stock. Raymond James reiterated an “outperform” rating and issued a C$75.00 price objective on shares of Toromont Industries in a research report on Friday, July 26th. CIBC raised their target price on shares of Toromont Industries from C$68.00 to C$69.00 in a report on Friday, July 26th. National Bank Financial upgraded shares of Toromont Industries from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$65.00 to C$71.00 in a report on Friday, July 26th. Canaccord Genuity lifted their target price on shares of Toromont Industries from C$62.00 to C$64.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lowered their price target on shares of Toromont Industries from C$65.00 to C$64.00 in a research report on Monday, July 22nd.
TIH traded up C$0.04 on Friday, hitting C$64.83. 64,958 shares of the company were exchanged, compared to its average volume of 132,781. The business’s fifty day moving average is C$63.60 and its 200 day moving average is C$64.47. Toromont Industries has a fifty-two week low of C$51.02 and a fifty-two week high of C$70.62. The company has a debt-to-equity ratio of 49.44, a quick ratio of 0.61 and a current ratio of 1.56. The firm has a market capitalization of $5.28 billion and a P/E ratio of 19.67.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd will be issued a $0.27 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. Toromont Industries’s dividend payout ratio (DPR) is 30.40%.
In other news, Director David Allan Malinauskas sold 1,800 shares of Toromont Industries stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$63.50, for a total transaction of C$114,300.00. Following the completion of the sale, the director now directly owns 2,070 shares in the company, valued at C$131,445. Also, Senior Officer Paul Randolph Jewer sold 5,000 shares of Toromont Industries stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of C$66.10, for a total transaction of C$330,500.00. Over the last three months, insiders sold 11,300 shares of company stock valued at $737,579.
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 is involved 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.
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