Toromont Industries (TSE:TIH) Given New C$254.00 Price Target at National Bank Financial

Key Points

• National Bank Financial lowered its price target on Toromont Industries to C$254 from C$261, while maintaining an “outperform” rating; the new target implies 26.73% upside from the reported share price.
• Analyst sentiment remains positive: eight analysts rate the stock a Buy and two a Hold, with a consensus “Moderate Buy” rating and C$246.60 consensus price target.
• Toromont shares fell C$8.98 to C$200.42 on Wednesday. The company reported quarterly EPS of C$2.33 and revenue of C$1.65 billion.

Toromont Industries (TSE:TIH - Get Free Report) had its price target cut by National Bank Financial from C$261.00 to C$254.00 in a research note issued to investors on Wednesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective points to a potential upside of 26.73% from the stock's current price.

Other equities research analysts have also issued reports about the company. Scotiabank increased their price target on Toromont Industries from C$239.00 to C$244.00 and gave the stock a "sector outperform" rating in a research report on Wednesday. Canaccord Genuity Group lowered their target price on Toromont Industries from C$260.00 to C$250.00 and set a "buy" rating for the company in a research note on Wednesday. Royal Bank Of Canada reduced their price objective on shares of Toromont Industries from C$265.00 to C$261.00 and set an "outperform" rating on the stock in a research note on Tuesday. Canadian Imperial Bank of Commerce boosted their price target on shares of Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th. Finally, Stifel Nicolaus set a C$250.00 price objective on shares of Toromont Industries and gave the company a "buy" rating in a research report on Wednesday, September 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Toromont Industries has a consensus rating of "Moderate Buy" and a consensus price target of C$246.60.

Toromont Industries Stock Performance

Toromont Industries stock traded down C$8.98 on Wednesday, hitting C$200.42. The company's stock had a trading volume of 232,629 shares, compared to its average volume of 280,274. The company has a fifty day moving average price of C$209.47 and a 200-day moving average price of C$209.53. The firm has a market cap of C$16.35 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 3.72 and a beta of 0.83. Toromont Industries has a one year low of C$155.85 and a one year high of C$243.50. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76.

Toromont Industries (TSE:TIH - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported C$2.33 earnings per share (EPS) for the quarter. The firm had revenue of C$1.65 billion during the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. On average, equities analysts anticipate that Toromont Industries will post 6.59 earnings per share 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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