Toromont Industries Ltd. (TSE:TIH) Receives Average Rating of “Moderate Buy” from Analysts

Toromont Industries Ltd. (TSE:TIH) has received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$198.63.

TIH has been the topic of several analyst reports. Canaccord Genuity Group raised their price target on shares of Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. Raymond James Financial lifted their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. TD Securities upped their price target on Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on shares of Toromont Industries from C$180.00 to C$207.00 in a research note on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce upped their price target on Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th.

Insider Activity

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the business’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.

Toromont Industries Price Performance

Shares of TIH opened at C$194.76 on Friday. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93. The stock has a market capitalization of C$15.86 billion, a PE ratio of 32.09, a PEG ratio of 3.72 and a beta of 0.89. The company has a 50 day moving average price of C$194.23 and a 200-day moving average price of C$173.30. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$215.58.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. The firm had revenue of C$1.42 billion during the quarter. Equities analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.24 annualized dividend and a yield of 1.2%. This is a boost from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s dividend payout ratio is 34.27%.

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.