Canaccord Genuity Group Boosts Toromont Industries (TSE:TIH) Price Target to C$200.00

Toromont Industries (TSE:TIH) had its price objective raised by equities research analysts at Canaccord Genuity Group from C$172.00 to C$200.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would suggest a potential downside of 1.83% from the stock’s current price.

Other research analysts have also issued reports about the company. TD Securities increased their target price on Toromont Industries from C$180.00 to C$195.00 in a research report on Wednesday, February 4th. Canadian Imperial Bank of Commerce raised their price objective on Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. National Bank Financial boosted their target price on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. CIBC World Markets increased their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Saturday, February 7th. Finally, Raymond James Financial lifted their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries presently has an average rating of “Moderate Buy” and an average price target of C$189.22.

Toromont Industries Trading Up 3.2%

TSE:TIH traded up C$6.39 during mid-day trading on Friday, reaching C$203.72. The company’s stock had a trading volume of 190,727 shares, compared to its average volume of 215,014. The company’s fifty day simple moving average is C$172.43 and its two-hundred day simple moving average is C$159.56. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. Toromont Industries has a twelve month low of C$107.32 and a twelve month high of C$204.15. The stock has a market cap of C$16.59 billion, a P/E ratio of 33.67, a P/E/G ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The business had revenue of C$1.42 billion for the quarter. On average, equities analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Activity

In related news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the sale, the insider directly owned 12,012 shares of the company’s stock, valued at C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. Company insiders own 0.27% of the company’s stock.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.