Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Scotiabank Analyst Says

Toromont Industries (TSE:TIH) had its price target raised by analysts at Scotiabank from C$181.00 to C$208.00 in a report released on Wednesday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 3.17% from the stock’s current price.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on Toromont Industries from C$180.00 to C$207.00 in a research note on Thursday, February 12th. BMO Capital Markets increased their price objective on shares of Toromont Industries from C$196.00 to C$210.00 in a report on Thursday, February 12th. National Bank Financial 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 note on Monday, November 3rd. Canadian Imperial Bank of Commerce upped their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Finally, TD Securities lifted their price objective on Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Toromont Industries has a consensus rating of “Moderate Buy” and an average target price of C$198.63.

Toromont Industries Stock Performance

Shares of TIH stock traded down C$4.92 during trading hours on Wednesday, hitting C$201.60. The company’s stock had a trading volume of 241,903 shares, compared to its average volume of 223,075. The stock has a market cap of C$16.42 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$207.86. The company has a 50 day moving average of C$174.94 and a 200 day moving average of C$161.33. 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 posted its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share (EPS) for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The company had revenue of C$1.42 billion during the quarter. On average, sell-side analysts forecast that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Insider Buying and Selling

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the completion of the sale, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by corporate insiders.

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.