Toromont Industries (TSE:TIH) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Toromont Industries Ltd. (TSE:TIH) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$141.74 and traded as high as C$163.56. Toromont Industries shares last traded at C$162.42, with a volume of 146,178 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on TIH. Scotiabank boosted their price objective 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. Canaccord Genuity Group lifted their price target on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a report on Monday, November 3rd. National Bankshares increased their price objective on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. TD Securities boosted their target price on shares of Toromont Industries from C$179.00 to C$180.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Finally, BMO Capital Markets upped their target price on shares of Toromont Industries to C$178.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$172.88.

Toromont Industries Stock Down 0.6%

The company has a market capitalization of C$13.22 billion, a P/E ratio of 26.85, a PEG ratio of 3.72 and a beta of 0.58. The firm’s 50 day moving average price is C$159.57 and its two-hundred day moving average price is C$141.74. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 EPS for the quarter. The business had revenue of C$1.31 billion for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. Equities research analysts forecast that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, January 5th will be issued a $0.52 dividend. The ex-dividend date is Friday, December 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Toromont Industries’s dividend payout ratio (DPR) is presently 33.72%.

Insider Activity

In other Toromont Industries news, Director David Allan Malinauskas sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total transaction of C$876,600.00. Also, insider Mike Cuddy sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the sale, the insider owned 36,955 shares in the company, valued at approximately C$5,395,430. This represents a 16.87% decrease in their position. Corporate insiders own 0.27% of the company’s stock.

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.