Brokerages Set Toromont Industries Ltd. (TSE:TIH) PT at C$216.44

Toromont Industries Ltd. (TSE:TIH) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$216.44.

A number of analysts have weighed in on the stock. TD Securities raised their price objective on shares of Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Raymond James Financial raised their price objective on shares of Toromont Industries from C$180.00 to C$190.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$200.00 to C$235.00 in a report on Monday, April 27th. BMO Capital Markets raised their price objective on shares of Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th. Finally, Scotiabank raised their price objective on shares of Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$223.89 on Friday. The firm’s 50 day moving average price is C$205.64 and its 200 day moving average price is C$185.74. The stock has a market cap of C$18.25 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 3.72 and a beta of 0.96. Toromont Industries has a fifty-two week low of C$114.70 and a fifty-two week high of C$225.88. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19.

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

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Toromont Industries’s dividend payout ratio is 33.70%.

Insiders Place Their Bets

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20. 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.