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

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$129.63.

Several analysts have recently issued reports on TIH shares. TD Securities dropped their target price on shares of Toromont Industries from C$143.00 to C$136.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. BMO Capital Markets dropped their target price on shares of Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. CIBC dropped their target price on shares of Toromont Industries from C$130.00 to C$120.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Scotiabank dropped their target price on shares of 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, May 2nd. Finally, Royal Bank of Canada lifted their target price on shares of 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.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Frederick James Mifflin acquired 500 shares of the company'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. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction of C$575,000.00. Over the last quarter, insiders sold 10,200 shares of company stock worth $1,204,504. Corporate insiders own 0.27% of the company's stock.

Toromont Industries Price Performance

Shares of TSE TIH traded down C$2.01 during trading on Tuesday, hitting C$113.43. The company had a trading volume of 142,842 shares, compared to its average volume of 150,982. The stock has a fifty day simple moving average of C$113.85 and a two-hundred day simple moving average of C$116.25. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$134.88. The firm has a market capitalization of C$9.25 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, April 4th were issued a $0.52 dividend. The ex-dividend date was Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from Toromont Industries's previous quarterly dividend of $0.48. Toromont Industries's payout ratio is 31.18%.

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.