Toromont Industries (TSE:TIH) Price Target Raised to C$139.00

Toromont Industries (TSE:TIH) had its price target increased by research analysts at Royal Bank of Canada from C$138.00 to C$139.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 12.96% from the stock’s previous close.

Several other research firms have also commented on TIH. National Bankshares reduced their price target on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. BMO Capital Markets lifted their target price on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. Raymond James lifted their target price on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, CIBC lifted their target price on Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Toromont Industries currently has a consensus rating of “Moderate Buy” and an average price target of C$136.28.

Toromont Industries Price Performance

TIH stock traded up C$1.76 during midday trading on Thursday, reaching C$123.05. The stock had a trading volume of 55,978 shares, compared to its average volume of 150,807. The company’s fifty day simple moving average is C$115.34 and its 200 day simple moving average is C$121.14. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The company has a market cap of C$10.04 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. Corporate insiders own 0.27% of the company’s stock.

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 engages 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.