Toromont Industries (TSE:TIH) Given a C$250.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated a C$250 price target for Toromont Industries and maintained a “buy” rating, implying 10.56% upside from the stock’s current price.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of C$247.20.
• Toromont reported quarterly EPS of C$2.20 on revenue of C$1.60 billion. The shares opened at C$226.12, with a market capitalization of approximately C$18.44 billion.

Toromont Industries (TSE:TIH - Get Free Report) has been given a C$250.00 price target by stock analysts at Stifel Nicolaus in a research note issued on Wednesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 10.56% from the stock's current price.

Several other research firms have also weighed in on TIH. BMO Capital Markets increased their price target on Toromont Industries from C$247.00 to C$248.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Toromont Industries from C$256.00 to C$265.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Canaccord Genuity Group boosted their price objective on shares of Toromont Industries from C$240.00 to C$260.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Scotiabank raised shares of Toromont Industries from a "hold" rating to an "outperform" rating and increased their target price for the company from C$238.00 to C$239.00 in a research note on Thursday, July 30th. Finally, National Bank Financial raised their target price on shares of Toromont Industries from C$259.00 to C$261.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$247.20.

Toromont Industries Trading Down 0.2%

TIH opened at C$226.12 on Wednesday. The firm has a market cap of C$18.44 billion, a P/E ratio of 36.01, a P/E/G ratio of 3.72 and a beta of 0.94. Toromont Industries has a 12 month low of C$152.68 and a 12 month high of C$243.50. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. The stock has a 50-day moving average of C$211.03 and a 200 day moving average of C$213.94.

Toromont Industries (TSE:TIH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. The business had revenue of C$1.60 billion during the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%. As a group, research analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory - spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.

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