TD Securities Increases Toromont Industries (TSE:TIH) Price Target to C$154.00

Key Points

• has increased its price target for Toromont Industries from C$153.00 to C$154.00, suggesting an upside of 8.66% from its current price.
• Other analysts have mixed ratings, with Canaccord Genuity cutting its target to C$131.00 while BMO Capital Markets raised theirs to C$147.00, reflecting varying opinions on the stock's performance.
• Insider trading revealed that Director David Allan Malinauskas sold 250 shares at an average price of C$118.71, indicating a 29.41% decrease in his position.

Toromont Industries (TSE:TIH - Get Free Report) had its price target increased by investment analysts at TD Securities from C$153.00 to C$154.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 8.66% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group cut 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 report on Friday, May 2nd. BMO Capital Markets lifted their target price on Toromont Industries from C$140.00 to C$147.00 in a research report on Wednesday. Raymond James Financial reduced their price target on Toromont Industries from C$130.00 to C$122.00 and set a "market perform" rating for the company in a research report on Friday, May 2nd. Scotiabank decreased their price objective 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. Finally, CIBC increased their target price on shares of Toromont Industries from C$120.00 to C$129.00 in a report on Friday, July 18th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$140.50.

Toromont Industries Stock Performance

Shares of TSE TIH traded up C$2.73 during midday trading on Thursday, hitting C$141.73. 123,407 shares of the company's stock traded hands, compared to its average volume of 147,196. The firm has a fifty day moving average of C$123.88 and a 200 day moving average of C$118.87. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$142.05. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The stock has a market capitalization of C$11.56 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 250 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$118.71, for a total value of C$29,677.50. Following the sale, the director owned 600 shares in the company, valued at C$71,226. The trade was a 29.41% decrease in their position. Also, Director Frederick James Mifflin bought 500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of C$110.05 per share, for a total transaction of C$55,025.00. In the last three months, insiders have sold 15,450 shares of company stock worth $1,818,938. 0.27% of the stock is currently owned by corporate 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.

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