TD Securities Has Lowered Expectations for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH - Free Report) had its target price reduced by TD Securities from C$143.00 to C$136.00 in a research report released on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group reduced their price objective on shares of Toromont Industries from C$134.00 to C$131.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Scotiabank dropped their price target on Toromont Industries from C$133.50 to C$128.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. CIBC decreased their price objective on shares of Toromont Industries from C$130.00 to C$120.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets dropped their target price on shares of Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Royal Bank of Canada raised their price target on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Toromont Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of C$129.63.

Toromont Industries Stock Up 0.9 %

TSE TIH traded up C$0.97 during trading on Monday, reaching C$113.43. 17,649 shares of the company's stock traded hands, compared to its average volume of 148,669. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$134.88. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a market cap of C$9.25 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company's 50 day simple moving average is C$114.05 and its two-hundred day simple moving average is C$116.52.

Toromont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. This is a boost from Toromont Industries's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.83%. Toromont Industries's payout ratio is presently 31.18%.

Insider Transactions at Toromont Industries

In other news, Director Frederick James Mifflin purchased 500 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was acquired at an average price of C$110.05 per share, with a total value of C$55,025.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction of C$575,000.00. Insiders have sold a total of 10,200 shares of company stock valued at $1,204,504 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.