Toromont Industries (TSE:TIH) Price Target Raised to C$259.00

Toromont Industries (TSE:TIH) had its price objective hoisted by equities research analysts at National Bank Financial from C$216.00 to C$259.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 9.64% from the stock’s current price.

Several other equities research analysts have also recently weighed in on TIH. Canaccord Genuity Group upgraded shares of Toromont Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from C$200.00 to C$235.00 in a research report on Monday, April 27th. BMO Capital Markets upped their target price on shares of Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada increased their price target on shares of Toromont Industries from C$234.00 to C$256.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Scotia raised their price target on shares of Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Finally, Raymond James Financial upgraded shares of Toromont Industries from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$190.00 to C$235.00 in a research report on Thursday, June 18th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$228.67.

Toromont Industries Price Performance

Shares of TIH stock traded down C$1.23 during trading hours on Tuesday, hitting C$236.23. 130,947 shares of the company’s stock were exchanged, compared to its average volume of 256,647. Toromont Industries has a 52 week low of C$119.42 and a 52 week high of C$243.50. The stock has a market cap of C$19.26 billion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38. The stock’s 50-day moving average is C$217.79 and its 200-day moving average is C$196.19.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The business had revenue of C$1.23 billion during the quarter. As a group, research analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.