Toromont Industries Ltd. (TSE:TIH) Given Consensus Recommendation of "Moderate Buy" by Analysts

Toromont Industries Ltd. (TSE:TIH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$136.06.

TIH has been the subject of several analyst reports. Raymond James lifted their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the company a "market perform" rating in a report on Thursday, February 13th. National Bankshares lifted their price target on Toromont Industries from C$126.00 to C$133.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their target price on Toromont Industries from C$138.00 to C$139.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. BMO Capital Markets raised their price target on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday, February 12th. Finally, Scotiabank upped their price objective on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th.

Toromont Industries Stock Performance

Toromont Industries stock traded down C$0.34 during midday trading on Friday, hitting C$113.35. The company's stock had a trading volume of 2,844 shares, compared to its average volume of 150,365. The company has a 50-day moving average price of C$116.53 and a two-hundred day moving average price of C$118.54. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$134.88. The company has a market cap of C$9.24 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, April 4th were paid a $0.52 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Toromont Industries's previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a dividend yield of 1.84%. Toromont Industries's dividend payout ratio is 31.18%.

Insider Activity

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$121.25, for a total value of C$606,250.00. Insiders sold a total of 10,200 shares of company stock worth $1,204,504 over the last quarter. Insiders own 0.27% of the company's stock.

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.