Toromont Industries (TSE:TIH) Price Target Raised to C$180.00 at CIBC World Markets

Toromont Industries (TSE:TIH) had its price target upped by equities researchers at CIBC World Markets from C$172.00 to C$180.00 in a research report issued to clients and investors on Saturday,BayStreet.CA reports. CIBC World Markets’ price objective points to a potential downside of 2.55% from the stock’s current price.

Several other research firms also recently weighed in on TIH. National Bankshares boosted their target price on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce boosted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday. Royal Bank Of Canada upped their target price on Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Scotiabank raised their target price on Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Finally, Canaccord Genuity Group boosted their price target on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$176.22.

Toromont Industries Stock Up 1.9%

TIH stock traded up C$3.52 on Friday, hitting C$184.71. 164,107 shares of the company’s stock were exchanged, compared to its average volume of 197,281. The firm has a 50 day moving average price of C$170.21 and a two-hundred day moving average price of C$157.97. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$185.17. The stock has a market cap of C$15.03 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 EPS for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.The company had revenue of C$1.31 billion during the quarter. As a group, equities research analysts expect that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Insider Transactions at Toromont Industries

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the sale, the insider directly owned 12,012 shares of the company’s stock, valued at approximately C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

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.