Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as C$219.04 and last traded at C$217.80, with a volume of 206990 shares. The stock had previously closed at C$217.38.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on TIH. National Bank Financial upped their price objective on shares of Toromont Industries from C$214.00 to C$216.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Scotia upped their price objective on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 30th. TD Securities upped their price objective on shares of 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. Canaccord Genuity Group raised shares of Toromont Industries from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$200.00 to C$235.00 in a research note on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Toromont Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of C$216.44.
Read Our Latest Stock Analysis on TIH
Toromont Industries Trading Up 0.2%
The firm has a market capitalization of C$17.76 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.72 and a beta of 0.91. The company's 50-day simple moving average is C$202.94 and its 200 day simple moving average is C$181.45. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19.
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 business had revenue of C$1.23 billion during the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. As a group, sell-side analysts expect that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.
Toromont Industries Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from Toromont Industries's previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. Toromont Industries's payout ratio is currently 33.70%.
Insider Activity at Toromont Industries
In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20. Insiders own 0.27% of the company's stock.
About Toromont Industries
(
Get Free Report)
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.
Further Reading
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