Toromont Industries Ltd (TSE:TIH) had its price target boosted by National Bank Financial from C$52.00 to C$55.00 in a research note published on Tuesday. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also commented on TIH. Raymond James Financial, Inc. boosted their target price on shares of Toromont Industries from C$55.00 to C$58.50 and gave the stock an outperform rating in a research report on Tuesday. Scotiabank boosted their target price on shares of Toromont Industries from C$47.00 to C$53.00 and gave the stock a sector perform rating in a research report on Tuesday. Canaccord Genuity boosted their target price on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a buy rating in a research report on Tuesday. Finally, TD Securities boosted their target price on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a hold rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of C$52.50.

Toromont Industries (TSE:TIH) opened at 53.76 on Tuesday. Toromont Industries has a 52-week low of $37.59 and a 52-week high of $54.60. The firm has a market capitalization of $4.22 billion and a PE ratio of 26.51. The firm’s 50-day moving average is $46.57 and its 200-day moving average is $46.60.

Toromont Industries (TSE:TIH) last issued its earnings results on Tuesday, July 25th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by $0.04. The company had revenue of $530.93 million for the quarter, compared to analysts’ expectations of $550.60 million. Toromont Industries had a return on equity of 17.80% and a net margin of 7.62%. On average, analysts anticipate that Toromont Industries will post $2.11 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.76 annualized dividend and a dividend yield of 1.41%.

Toromont Industries Company Profile

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 a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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