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

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$129.63.

Several equities analysts have recently issued reports on TIH shares. BMO Capital Markets decreased their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating for the company in a report on Friday. CIBC decreased their target price on Toromont Industries from C$130.00 to C$120.00 and set a "neutral" rating for the company in a research note on Friday. 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 report on Friday. Royal Bank of Canada boosted their price objective 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. Finally, National Bankshares raised their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th.

Toromont Industries Price Performance

Shares of TIH stock opened at C$108.77 on Tuesday. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$134.88. The firm's 50 day moving average price is C$114.43 and its two-hundred day moving average price is C$116.81. The stock has a market cap of C$8.87 billion, a PE ratio of 17.66, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, April 4th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Toromont Industries's previous quarterly dividend of $0.48. Toromont Industries's dividend payout ratio (DPR) is currently 31.18%.

Insiders Place Their Bets

In related news, Director Frederick James Mifflin purchased 500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of C$110.05 per share, for a total transaction of C$55,025.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00. Insiders sold 10,200 shares of company stock worth $1,204,504 in the last quarter. 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.

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