Toromont Industries (TSE:TIH) Given New C$190.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised its price target on Toromont to C$190 (from C$180) but kept a "market perform" rating, a target that implies roughly a 10.07% downside from the stock's current price.
• Other brokerages have largely increased targets and ratings—Canaccord upgraded to a buy with a C$235 target while Scotiabank and National Bank also raised targets—leaving a consensus rating of Moderate Buy and a consensus target of C$216.44.
• Toromont traded at C$211.28 (up 0.2%), with a market cap of C$17.21 billion and a P/E of 34.8; the company reported quarterly EPS of C$1.13 on C$1.23 billion in revenue.

Toromont Industries (TSE:TIH - Get Free Report) had its price objective upped by equities researchers at Raymond James Financial from C$180.00 to C$190.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. Raymond James Financial's price objective points to a potential downside of 10.07% from the company's current price.

A number of other brokerages have also issued reports on TIH. Scotiabank raised their price target on shares of Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Scotia boosted their price target on Toromont Industries from C$208.00 to C$229.00 and gave the company a "sector perform" rating in a report on Thursday. Canadian Imperial Bank of Commerce upped their price target on Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. National Bank Financial increased their price objective on Toromont Industries from C$208.00 to C$214.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Finally, Canaccord Genuity Group raised Toromont Industries from a "hold" rating to a "buy" rating and boosted their target price for the company from C$200.00 to C$235.00 in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$216.44.

Toromont Industries Trading Up 0.2%

TSE:TIH traded up C$0.40 during trading hours on Thursday, reaching C$211.28. The company's stock had a trading volume of 97,729 shares, compared to its average volume of 255,282. The firm has a 50-day simple moving average of C$202.81 and a 200-day simple moving average of C$180.92. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93. Toromont Industries has a 1 year low of C$108.51 and a 1 year high of C$217.97. The firm has a market capitalization of C$17.21 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 3.72 and a beta of 0.91.

Toromont Industries (TSE:TIH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 15.97% and a net margin of 9.54%.The firm had revenue of C$1.23 billion for the quarter. Research analysts expect that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of Toromont Industries stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20. Corporate insiders own 0.27% of the company's stock.

About Toromont Industries

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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.

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