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

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research 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 price target among brokerages that have updated their coverage on the stock in the last year is C$129.63.

Several analysts recently issued reports on the stock. CIBC reduced their price target on shares of Toromont Industries from C$130.00 to C$120.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. TD Securities cut their price objective on shares of Toromont Industries from C$143.00 to C$136.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Canaccord Genuity Group cut their price objective on shares of Toromont Industries from C$134.00 to C$131.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Raymond James Financial cut their price objective on shares of Toromont Industries from C$130.00 to C$122.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Finally, BMO Capital Markets cut their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd.

Toromont Industries Stock Up 0.1%

TSE TIH traded up C$0.09 during mid-day trading on Wednesday, hitting C$122.10. The company's stock had a trading volume of 112,564 shares, compared to its average volume of 151,529. The company's 50 day simple moving average is C$117.49 and its 200 day simple moving average is C$116.45. Toromont Industries has a twelve month low of C$107.32 and a twelve month high of C$134.88. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The firm has a market capitalization of C$9.96 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, June 6th. Toromont Industries's payout ratio is 31.18%.

Insider Transactions at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of C$120.00, for a total transaction of C$600,000.00. Also, Director David Allan Malinauskas sold 250 shares of Toromont Industries stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of C$118.71, for a total value of C$29,677.50. Following the sale, the director now owns 600 shares in the company, valued at C$71,226. The trade was a 29.41% decrease in their ownership of the stock. Insiders have sold 15,450 shares of company stock worth $1,818,938 in the last ninety days. Company 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.