Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$161.75 and last traded at C$161.46, with a volume of 98753 shares changing hands. The stock had previously closed at C$160.04.
Analyst Upgrades and Downgrades
TIH has been the topic of a number of analyst reports. Scotiabank upped their target price on shares of Toromont Industries from C$140.00 to C$171.00 in a research note on Friday, October 17th. TD Securities upped their target price on shares of Toromont Industries from C$154.00 to C$179.00 in a research note on Friday, October 17th. Raymond James Financial upped their price objective on Toromont Industries from C$122.00 to C$125.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. BMO Capital Markets upped their price objective on Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday, July 30th. Finally, CIBC upped their price target on Toromont Industries from C$148.00 to C$168.00 and gave the company a "neutral" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$153.00.
View Our Latest Analysis on Toromont Industries
Toromont Industries Stock Performance
The firm has a market capitalization of C$13.14 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 3.72 and a beta of 0.64. The stock has a 50-day moving average of C$150.34 and a 200 day moving average of C$131.84. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.
Toromont Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, September 5th. Toromont Industries's dividend payout ratio is presently 33.84%.
Insider Transactions at Toromont Industries
In other news, Director David Allan Malinauskas sold 6,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$146.10, for a total transaction of C$876,600.00. Also, insider Mike Cuddy sold 7,500 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the sale, the insider directly owned 36,955 shares in the company, valued at C$5,395,430. This trade represents a 16.87% decrease in their ownership of the stock. 0.27% of the stock is owned by corporate insiders.
Toromont Industries Company Profile
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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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