Toromont Industries (TSE:TIH) Given New C$229.00 Price Target at Scotia

Key Points

• Scotia raised its price target on Toromont Industries from C$208 to C$229 while keeping a "sector perform" rating, implying about 8.39% upside; other banks also lifted targets and MarketBeat shows a consensus "Moderate Buy" with an average target of C$216.44.
• Shares traded at C$211.28 and the company has a market cap of C$17.21 billion, a P/E of 34.81, a 52‑week range of C$108.51–C$217.97, and reported C$1.13 EPS on C$1.23 billion in quarterly revenue.

Toromont Industries (TSE:TIH - Get Free Report) had its target price increased by equities research analysts at Scotia from C$208.00 to C$229.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotia's price objective points to a potential upside of 8.39% from the stock's previous close.

A number of other equities analysts have also recently weighed in on TIH. Scotiabank upped their price target on Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Royal Bank Of Canada boosted their price objective on Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. TD Securities upped their target price on Toromont Industries from C$195.00 to C$228.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Raymond James Financial lifted their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Finally, BMO Capital Markets boosted their price target on shares of Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$216.44.

Toromont Industries Stock Performance

Shares of TIH traded up C$0.40 during trading hours on Thursday, hitting C$211.28. The stock had a trading volume of 97,729 shares, compared to its average volume of 255,282. The firm has a 50-day moving average price of C$202.81 and a 200 day moving average price of C$180.92. Toromont Industries has a fifty-two week low of C$108.51 and a fifty-two week 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. 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 (TSE:TIH - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. The company had revenue of C$1.23 billion for the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. As a group, research analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Activity

In related news, Director David Allan Malinauskas sold 972 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total transaction of C$195,955.20. 0.27% of the stock is owned by corporate 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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.

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