Toromont Industries (TSE:TIH) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Toromont Industries Ltd. (TSE:TIH) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$163.77 and traded as high as C$206.57. Toromont Industries shares last traded at C$204.79, with a volume of 302,418 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TIH shares. TD Securities increased their target price on shares of Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their price target on Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th. National Bank Financial boosted their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. BMO Capital Markets raised their target price on Toromont Industries from C$196.00 to C$210.00 in a research report on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$198.63.

Toromont Industries Price Performance

The company’s 50 day simple moving average is C$179.54 and its two-hundred day simple moving average is C$163.77. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The stock has a market capitalization of C$16.68 billion, a P/E ratio of 33.74, a PEG ratio of 3.72 and a beta of 0.52.

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

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, December 5th. Toromont Industries’s dividend payout ratio (DPR) is presently 34.27%.

Insider Activity at Toromont Industries

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the transaction, the insider owned 12,012 shares of the company’s stock, valued at approximately C$1,981,980. This represents a 29.39% decrease in their position. 0.27% of the stock is owned by company insiders.

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.