Toromont Industries (TIH) Given New C$65.00 Price Target at National Bank Financial
Toromont Industries (TSE:TIH) had its target price reduced by National Bank Financial from C$70.00 to C$65.00 in a report released on Friday morning, BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock. National Bank Financial also issued estimates for Toromont Industries’ Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.97 EPS, Q4 2019 earnings at $1.15 EPS, FY2019 earnings at $3.47 EPS and FY2020 earnings at $3.82 EPS.
Other research analysts have also recently issued reports about the stock. TD Securities lifted their price objective on shares of Toromont Industries from C$70.00 to C$72.00 in a report on Tuesday, February 19th. Canaccord Genuity boosted their price target on shares of Toromont Industries from C$57.00 to C$62.00 in a report on Tuesday, February 19th. CIBC cut their price target on shares of Toromont Industries from C$70.00 to C$68.00 in a report on Monday, May 6th. Scotiabank restated a neutral rating and set a C$69.00 price target on shares of Toromont Industries in a report on Wednesday, February 20th. Finally, BMO Capital Markets boosted their price target on shares of Toromont Industries from C$66.00 to C$72.00 and gave the stock an outperform rating in a report on Tuesday, February 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of C$68.75.
Shares of TSE TIH opened at C$58.93 on Friday. The stock has a market cap of $4.84 billion and a PE ratio of 18.60. Toromont Industries has a 1 year low of C$51.02 and a 1 year high of C$70.62. The company has a quick ratio of 0.63, a current ratio of 1.62 and a debt-to-equity ratio of 50.75.
In related news, Director Randall Casson sold 17,700 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$60.75, for a total transaction of C$1,075,275.00. Following the transaction, the director now directly owns 120,000 shares in the company, valued at C$7,290,000. Over the last 90 days, insiders have sold 18,100 shares of company stock worth $1,102,432.
About Toromont Industries
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 various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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