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

Key Points

• Toromont Industries Ltd. has received a consensus recommendation of "Moderate Buy" from analysts, with average 12-month price objective set at C$140.50.
• The company will issue a quarterly dividend of $0.52 on October 3rd, representing an annualized dividend yield of 1.4%.
• Shares of Toromont Industries are currently trading around C$143.49, with a market capitalization of C$11.70 billion.

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$140.50.

A number of analysts recently issued reports on TIH shares. Scotiabank raised their price target on Toromont Industries from C$132.00 to C$140.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Canaccord Genuity Group lowered their price target on Toromont Industries from C$134.00 to C$131.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. CIBC lifted their target price on Toromont Industries from C$129.00 to C$148.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial lifted their target price on Toromont Industries from C$122.00 to C$125.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Finally, TD Securities lifted their target price on Toromont Industries from C$153.00 to C$154.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Toromont Industries Stock Up 1.0%

Shares of TIH opened at C$143.49 on Thursday. The company has a market cap of C$11.70 billion, a PE ratio of 23.30, a P/E/G ratio of 3.72 and a beta of 0.68. The business has a fifty day moving average of C$128.41 and a 200 day moving average of C$120.51. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$143.75. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 5th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. Toromont Industries's payout ratio is currently 31.18%.

Insider Buying and Selling at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$120.00, for a total value of C$600,000.00. 0.27% of the stock is owned by insiders.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.

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