National Bank Financial Forecasts Strong Price Appreciation for Toromont Industries (TSE:TIH) Stock

Key Points

• National Bank Financial raised its price target on Toromont from C$208 to C$214 and retained an "outperform" rating, implying about a 2.87% upside from the current share price.
• Multiple brokerages have boosted targets recently, leaving a consensus "Moderate Buy" with an average target of C$204 and a tally of five Buy vs. three Hold ratings.
• Shares traded up to C$208.03; the company reported quarterly results of C$1.92 EPS on C$1.42 billion revenue, with a 9.54% net margin and 15.97% ROE.

Toromont Industries (TSE:TIH - Get Free Report) had its price target lifted by analysts at National Bank Financial from C$208.00 to C$214.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 2.87% from the stock's current price.

Other equities analysts have also issued reports about the stock. Raymond James Financial boosted their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Thursday, February 12th. BMO Capital Markets boosted their target price on shares of Toromont Industries from C$210.00 to C$215.00 in a report on Tuesday. Canadian Imperial Bank of Commerce boosted their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Royal Bank Of Canada boosted their target price on shares of Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th. Finally, TD Securities boosted their target price on shares of Toromont Industries from C$195.00 to C$228.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$204.00.

Toromont Industries Price Performance

TIH traded up C$7.30 on Wednesday, reaching C$208.03. 99,044 shares of the company's stock were exchanged, compared to its average volume of 262,815. The stock has a market cap of C$16.94 billion, a PE ratio of 34.27, a P/E/G ratio of 3.72 and a beta of 0.91. Toromont Industries has a twelve month low of C$108.44 and a twelve month high of C$215.58. The stock's fifty day moving average price is C$195.88 and its 200-day moving average price is C$174.97. The company has a debt-to-equity ratio of 25.87, a current ratio of 2.93 and a quick ratio of 1.38.

Toromont Industries (TSE:TIH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. The firm had revenue of C$1.42 billion for the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. Sell-side analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Transactions at Toromont Industries

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

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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