Toromont Industries (TSE:TIH) Sets New 12-Month High - Still a Buy?

Key Points

• New 52-week high: Toromont hit a fresh 52-week high of C$217.97 (last C$215.63) amid several analyst upgrades and target increases, with the consensus rating at Moderate Buy and an average price target of C$208.38.
• Solid quarter and outlook: the company reported C$1.13 EPS and C$1.23 billion in revenue for the quarter, with analysts forecasting roughly 6.59 EPS for the year and profitability metrics including a 15.97% ROE and 9.54% net margin.
• Income and valuation highlights: Toromont raised its quarterly dividend to C$0.56 (C$2.24 annualized, 1.1% yield, 34.27% DPR) while trading at a PE of 33.58 and a market cap of C$16.6 billion, supported by 50‑day and 200‑day moving averages signaling an uptrend.

Toromont Industries Ltd. (TSE:TIH - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$217.97 and last traded at C$215.63, with a volume of 17844 shares traded. The stock had previously closed at C$208.86.

Analysts Set New Price Targets

A number of analysts have commented on TIH shares. National Bank Financial upped their price target on Toromont Industries from C$208.00 to C$214.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 8th. Canaccord Genuity Group raised Toromont Industries from a "hold" rating to a "buy" rating and increased their price target for the company from C$200.00 to C$235.00 in a research note on Monday. Scotiabank raised their price objective on Toromont Industries from C$181.00 to C$208.00 in a research note on Wednesday, February 18th. Raymond James Financial raised their price objective on Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada increased their price target on Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$208.38.

Toromont Industries Price Performance

The firm has a fifty day simple moving average of C$202.63 and a 200 day simple moving average of C$180.71. The company has a market capitalization of C$16.60 billion, a PE ratio of 33.58, a P/E/G 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 announced its quarterly earnings results 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 business had revenue of C$1.23 billion for the quarter. Equities analysts anticipate that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a $0.56 dividend. The ex-dividend date was Friday, March 6th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Toromont Industries's previous quarterly dividend of $0.52. Toromont Industries's dividend payout ratio (DPR) is 34.27%.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total value of C$195,955.20. 0.27% of the stock is owned by 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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