Toromont Industries (TIH) Given a C$58.00 Price Target at Royal Bank of Canada
Toromont Industries (TSE:TIH) has been given a C$58.00 price target by stock analysts at Royal Bank of Canada in a research note issued on Monday. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 8.92% from the stock’s previous close.
Several other research firms also recently issued reports on TIH. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$58.00 price objective on shares of Toromont Industries in a research note on Monday, October 16th. National Bank Financial reaffirmed a “sector perform” rating and issued a C$60.00 price objective on shares of Toromont Industries in a research note on Monday, October 23rd. Scotiabank upped their price objective on Toromont Industries from C$53.00 to C$59.00 and gave the company a “sector perform” rating in a research note on Thursday, November 9th. Raymond James Financial upped their price objective on Toromont Industries from C$58.50 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, CIBC upped their price objective on Toromont Industries from C$59.00 to C$60.00 in a research note on Monday, January 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Toromont Industries has an average rating of “Hold” and a consensus price target of C$60.50.
Toromont Industries (TSE:TIH) traded down C$0.37 during mid-day trading on Monday, hitting C$53.25. 78,487 shares of the stock were exchanged, compared to its average volume of 98,536. The company has a market capitalization of $4,380.00, a PE ratio of 25.99 and a beta of 0.90. Toromont Industries has a 52-week low of C$41.87 and a 52-week high of C$58.44.
In other news, insider David Wetherald sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of C$56.75, for a total transaction of C$227,000.00.
Toromont Industries Company Profile
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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