Toromont Industries (TSE:TIH) Share Price Breaks Below 200-Day Moving Average - Should You Sell?

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$215.44 and traded as low as C$212.22. Toromont Industries shares last traded at C$212.90, with a volume of 304,771 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Toromont Industries from C$240.00 to C$260.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Raymond James Financial upped their price objective 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. BMO Capital Markets upped their target price on shares of Toromont Industries from C$247.00 to C$248.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price target on shares of Toromont Industries from C$256.00 to C$265.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$247.20.

Toromont Industries Price Performance

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 company has a market capitalization of C$17.36 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 3.72 and a beta of 0.83. The stock's 50-day moving average is C$212.29 and its two-hundred day moving average is C$215.44.

Toromont Industries (TSE:TIH - Get Free Report) last announced its earnings results 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%. On average, equities analysts predict that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were issued a dividend of $0.56 per share. The ex-dividend date was Friday, September 4th. This represents a $2.24 dividend on an annualized basis and a yield of 1.1%. Toromont Industries's payout ratio is presently 34.39%.

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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