Toromont Industries Ltd. (TSE:TIH) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$140.50.

Several research firms have weighed in on TIH. TD Securities boosted their target price on shares of Toromont Industries from C$153.00 to C$154.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. BMO Capital Markets boosted their target price on shares of Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday, July 30th. Scotiabank upped their price target on shares of Toromont Industries from C$132.00 to C$140.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. National Bankshares upped their price target on shares of Toromont Industries from C$130.00 to C$140.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial upped their price target on shares of Toromont Industries from C$122.00 to C$125.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st.

Insider Activity

In other Toromont Industries news, insider Mike Cuddy sold 7,500 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the transaction, the insider owned 36,955 shares of the company's stock, valued at approximately C$5,395,430. This trade represents a 16.87% decrease in their position. Also, Director David Allan Malinauskas sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total transaction of C$876,600.00. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Performance

TIH stock traded up C$1.40 during trading on Monday, hitting C$147.36. 69,557 shares of the company's stock traded hands, compared to its average volume of 146,890. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$148.13. The stock has a fifty day moving average price of C$137.54 and a two-hundred day moving average price of C$123.85. The stock has a market capitalization of C$11.97 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.72 and a beta of 0.65.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, September 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. Toromont Industries's dividend payout ratio is currently 33.84%.

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.