Toromont Industries (TSE:TIH) Given New C$140.00 Price Target at BMO Capital Markets

Toromont Industries (TSE:TIH - Get Free Report) had its price objective hoisted by analysts at BMO Capital Markets from C$128.00 to C$140.00 in a research note issued on Tuesday,BayStreet.CA reports. BMO Capital Markets' price objective suggests a potential upside of 6.46% from the company's current price.

Other equities analysts also recently issued reports about the company. TD Securities dropped their price objective on 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. CIBC raised their price objective on Toromont Industries from C$120.00 to C$129.00 in a research note on Friday. Canaccord Genuity Group lowered their target price on 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. Scotiabank lowered their target price on Toromont Industries from C$133.50 to C$128.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Raymond James Financial decreased their price objective on 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. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$132.25.

Toromont Industries Stock Performance

Shares of TIH stock traded up C$4.06 during trading hours on Tuesday, reaching C$131.51. 66,165 shares of the company's stock were exchanged, compared to its average volume of 146,849. The company has a market cap of C$10.73 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company's 50 day moving average is C$121.60 and its two-hundred day moving average is C$117.96. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$134.88. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Insider Activity

In related news, Senior Officer Mike Cuddy sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of C$117.10, for a total transaction of C$585,500.00. Also, Director David Allan Malinauskas sold 250 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$118.71, for a total transaction of C$29,677.50. Following the completion of the transaction, the director directly owned 600 shares of the company's stock, valued at approximately C$71,226. This trade represents a 29.41% decrease in their position. In the last ninety days, insiders have sold 15,450 shares of company stock valued at $1,818,938. 0.27% of the stock is currently owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.