Toromont Industries (TSE:TIH) Upgraded to "Strong-Buy" at Stifel Nicolaus

Key Points

• Stifel Nicolaus upgraded Toromont Industries to “strong buy,” adding to broadly positive analyst sentiment. The stock has a consensus “Moderate Buy” rating and an average price target of C$247.20.
• Several brokerages recently raised their price targets, including RBC to C$265, Canaccord Genuity to C$260, and Raymond James to C$250, while Scotiabank upgraded the stock to “outperform.”
• Toromont reported quarterly earnings of C$2.20 per share on C$1.60 billion in revenue, with a 9.26% net margin and 15.53% return on equity. Its shares opened at C$226.98, compared with a 52-week range of C$152.68 to C$243.50.

Toromont Industries (TSE:TIH - Get Free Report) was upgraded by stock analysts at Stifel Nicolaus to a "strong-buy" rating in a report released on Monday, Zacks reports.

A number of other brokerages have also weighed in on TIH. Royal Bank Of Canada boosted their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Scotiabank upgraded 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 report on Thursday, July 30th. Canadian Imperial Bank of Commerce lifted their price target on Toromont Industries from C$240.00 to C$242.00 in a research note on Thursday, July 30th. Raymond James Financial boosted their price target on Toromont Industries from C$235.00 to C$250.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Finally, Canaccord Genuity Group upped their price objective on Toromont Industries from C$240.00 to C$260.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the 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 Price Performance

TIH stock opened at C$226.98 on Monday. The stock has a market cap of C$18.51 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 3.72 and a beta of 0.94. The company has a debt-to-equity ratio of 24.76, a current ratio of 2.73 and a quick ratio of 1.38. The company has a 50 day simple moving average of C$211.03 and a 200 day simple moving average of C$214.15. Toromont Industries has a 1 year low of C$152.68 and a 1 year high of C$243.50.

Toromont Industries (TSE:TIH - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. The firm had revenue of C$1.60 billion for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. Research analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current fiscal 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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