Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$118.64 and traded as high as C$133.74. Toromont Industries shares last traded at C$132.49, with a volume of 110,067 shares trading hands.
Wall Street Analyst Weigh In
A number of research firms have issued reports on TIH. Raymond James Financial lifted their price objective on Toromont Industries from C$122.00 to C$125.00 and gave the stock a "market perform" rating in a research note on Thursday. BMO Capital Markets raised their price target on shares of Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday. Scotiabank upped their target price on shares of Toromont Industries from C$132.00 to C$140.00 and gave the stock a "sector perform" rating in a research note on Thursday. National Bankshares lifted their price target on shares of Toromont Industries from C$130.00 to C$140.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, CIBC increased their price objective on Toromont Industries from C$129.00 to C$148.00 and gave the stock a "neutral" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$140.50.
View Our Latest Report on TIH
Toromont Industries Stock Down 0.4%
The firm has a market capitalization of C$11.41 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company's 50 day moving average price is C$124.35 and its 200 day moving average price is C$119.05.
Toromont Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 5th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.5%. Toromont Industries's dividend payout ratio is presently 31.18%.
Insider Activity
In other Toromont Industries news, Director David Allan Malinauskas sold 250 shares of Toromont Industries stock in a transaction that occurred 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 Jennifer Cochrane sold 5,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of C$116.00, for a total transaction of C$580,000.00. Over the last three months, insiders have sold 15,450 shares of company stock valued at $1,818,938. Company insiders own 0.27% of the company's stock.
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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