National Bank Financial Boosts Toromont Industries (TSE:TIH) Price Target to C$216.00

Key Points

• National Bank Financial raised its price target on Toromont to C$216.00 (from C$214) and maintained an "outperform" rating, implying roughly a 2.23% upside from the stock's current level.
• Multiple brokerages have recently lifted targets—RBC to C$234 and BMO to C$228 among them—leaving a consensus rating of "Moderate Buy" with an average target of C$216.44 (five Buys, four Holds).
• Toromont shares traded at C$211.28, with a market cap of C$17.21 billion and a 52-week range of C$108.51–C$217.97; the company reported quarterly EPS of C$1.13 on revenue of C$1.23 billion.

Toromont Industries (TSE:TIH - Get Free Report) had its price objective lifted by equities research analysts at National Bank Financial from C$214.00 to C$216.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 2.23% from the stock's current price.

Other equities analysts have also issued reports about the stock. Raymond James Financial raised their target price on shares of Toromont Industries from C$180.00 to C$190.00 and gave the stock a "market perform" rating in a research report on Thursday. Scotiabank increased their price target on shares of Toromont Industries from C$181.00 to C$208.00 in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their target price on shares of Toromont Industries from C$207.00 to C$234.00 and gave the company an "outperform" rating in a report on Thursday. Canadian Imperial Bank of Commerce increased their price objective on Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Finally, BMO Capital Markets upped their price target on Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$216.44.

Toromont Industries Stock Up 0.2%

TIH traded up C$0.40 on Thursday, reaching C$211.28. The company's stock had a trading volume of 97,729 shares, compared to its average volume of 255,282. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. Toromont Industries has a fifty-two week low of C$108.51 and a fifty-two week high of C$217.97. The stock has a 50 day moving average of C$202.81 and a two-hundred day moving average of C$180.92. The company has a market capitalization of C$17.21 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 3.72 and a beta of 0.91.

Toromont Industries (TSE:TIH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. The firm had revenue of C$1.23 billion for the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. As a group, analysts forecast that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total value of C$195,955.20. Corporate insiders own 0.27% of the company's stock.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.

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