Toromont Industries (TSE:TIH) Price Target Raised to C$215.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on Toromont to C$215.00 (from C$210.00), implying roughly a 7.34% upside, while multiple other firms also lifted targets and the consensus is a "Moderate Buy" with a C$199.25 average target.
• Shares traded up to C$200.30 (up ~2.6%); the company has a C$16.31B market cap and a P/E of 33, after reporting quarterly results of C$1.92 EPS on C$1.42B revenue and a 12‑month high near C$215.58.
• Insider activity: a director sold 972 shares (about C$196k), and insiders collectively own just 0.27% of the stock.

Toromont Industries (TSE:TIH - Get Free Report) had its price objective upped by BMO Capital Markets from C$210.00 to C$215.00 in a research report issued on Tuesday,BayStreet.CA reports. BMO Capital Markets' price target would indicate a potential upside of 7.34% from the company's current price.

Several other equities research analysts have also commented on the stock. Canadian Imperial Bank of Commerce boosted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Royal Bank Of Canada boosted their price objective on shares of Toromont Industries from C$180.00 to C$207.00 in a research note on Thursday, February 12th. Canaccord Genuity Group boosted their price objective on shares of Toromont Industries from C$172.00 to C$200.00 in a research note on Friday, February 13th. Raymond James Financial boosted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Finally, Scotiabank lifted their target price on shares of Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Toromont Industries currently has an average rating of "Moderate Buy" and a consensus target price of C$199.25.

Toromont Industries Trading Up 2.6%

Shares of TIH traded up C$5.03 during trading hours on Tuesday, reaching C$200.30. 134,030 shares of the company traded hands, compared to its average volume of 262,786. The company's fifty day moving average price is C$195.50 and its two-hundred day moving average price is C$174.63. The company has a market capitalization of C$16.31 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 3.72 and a beta of 0.91. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. Toromont Industries has a 12 month low of C$108.44 and a 12 month high of C$215.58.

Toromont Industries (TSE:TIH - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. The firm had revenue of C$1.42 billion for the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. Equities research analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of the business's 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. 0.27% of the stock is owned by insiders.

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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