Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$117.20 and traded as high as C$128.36. Toromont Industries shares last traded at C$128.00, with a volume of 111,376 shares changing hands.
Analyst Upgrades and Downgrades
TIH has been the subject of several research analyst reports. Raymond James Financial dropped their target price on shares of Toromont Industries from C$130.00 to C$122.00 and set a "market perform" rating for the company in a research report on Friday, May 2nd. TD Securities reduced their target price on Toromont Industries from C$143.00 to C$136.00 and set a "buy" rating on the stock in a report on Monday, May 5th. BMO Capital Markets lowered their target price on Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Canaccord Genuity Group decreased their price objective on Toromont Industries from C$134.00 to C$131.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, CIBC dropped their target price on shares of Toromont Industries from C$130.00 to C$120.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$129.63.
Read Our Latest Report on Toromont Industries
Toromont Industries Stock Performance
The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The firm has a market capitalization of C$10.44 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The business's 50 day simple moving average is C$119.34 and its two-hundred day simple moving average is C$117.20.
Toromont Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $2.08 dividend on an annualized basis and a yield of 1.63%. Toromont Industries's payout ratio is currently 31.18%.
Insiders Place Their Bets
In other Toromont Industries news, Director David Allan Malinauskas sold 250 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$118.71, for a total transaction of C$29,677.50. Following the completion of the sale, the director directly owned 600 shares in the company, valued at approximately C$71,226. The trade was a 29.41% decrease in their position. Also, Senior Officer Mike Cuddy sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$117.10, for a total transaction of C$585,500.00. In the last quarter, insiders have sold 15,450 shares of company stock valued at $1,818,938. 0.27% of the stock is currently owned by company insiders.
About Toromont Industries
(
Get Free Report)
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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