Toromont Industries (TSE:TIH) Price Target Raised to C$134.00 at Canaccord Genuity Group

Toromont Industries (TSE:TIH) had its target price boosted by Canaccord Genuity Group from C$130.00 to C$134.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

TIH has been the topic of a number of other research reports. BMO Capital Markets upped their price target on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. Scotiabank reduced their price target on Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. CIBC upped 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. National Bankshares cut their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$136.28.

Toromont Industries Trading Up 1.3 %

TSE TIH opened at C$122.91 on Thursday. The business’s 50-day moving average price is C$115.34 and its two-hundred day moving average price is C$121.14. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The firm has a market capitalization of C$10.02 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.56%. Toromont Industries’s payout ratio is currently 31.18%.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were acquired at an average price of C$111.45 per share, for a total transaction 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.