Analysts Set Toromont Industries Ltd. (TSE:TIH) Price Target at C$130.75

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have earned an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$130.75.

Several equities analysts have commented on TIH shares. Scotiabank dropped their target price on Toromont Industries from C$133.50 to C$128.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets reduced their price objective on Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. TD Securities decreased their price objective on Toromont Industries from C$143.00 to C$136.00 and set a "buy" rating for the company in a report on Monday, May 5th. Raymond James Financial cut their price objective on Toromont Industries from C$130.00 to C$122.00 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. Finally, CIBC upped their price target on Toromont Industries from C$120.00 to C$129.00 in a research report on Friday.

Toromont Industries Price Performance

Shares of TIH traded up C$3.46 during trading hours on Friday, hitting C$130.91. 61,771 shares of the company were exchanged, compared to its average volume of 146,823. The company has a market cap of C$10.68 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$134.88. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The firm's fifty day moving average is C$121.60 and its 200 day moving average is C$117.96.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, June 6th. Toromont Industries's dividend payout ratio is presently 31.18%.

Insider Buying and Selling

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of C$120.00, for a total value of C$600,000.00. Also, Director Frederick James Mifflin acquired 500 shares of the company's stock in a transaction on 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. Over the last quarter, insiders have sold 15,450 shares of company stock valued at $1,818,938. 0.27% of the stock is owned by 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.