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 ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$129.63.

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

Toromont Industries Trading Up 0.3%

Shares of TIH opened at C$120.36 on Wednesday. The stock has a fifty day moving average of C$116.97 and a two-hundred day moving average of C$116.25. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The company has a market capitalization of C$9.82 billion, a PE ratio of 19.55, a price-to-earnings-growth 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.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Friday, June 6th. This represents a $2.08 dividend on an annualized basis and a yield of 1.73%. Toromont Industries's dividend payout ratio (DPR) is 31.18%.

Insider Activity at Toromont Industries

In related news, Director Frederick James Mifflin purchased 500 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of C$110.05 per share, for a total transaction of C$55,025.00. Also, Director David Allan Malinauskas sold 250 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$118.71, for a total value of C$29,677.50. Following the completion of the sale, the director now owns 600 shares of the company's stock, valued at approximately C$71,226. This represents a 29.41% decrease in their ownership of the stock. In the last three months, insiders sold 15,450 shares of company stock worth $1,818,938. Corporate insiders own 0.27% of the company's stock.

Toromont Industries Company Profile

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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