Toromont Industries (TSE:TIH) Stock Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Toromont Industries Ltd. shares surpassed their two hundred day moving average and last traded at C$147.86 with a market cap of C$12.01 billion.
• Analysts have generally given Toromont Industries a consensus rating of "Moderate Buy." Recent price targets range from C$140.00 to C$154.00 from various financial institutions.
• The company has declared a quarterly dividend of $0.52 per share, with an annualized yield of 1.4% and a payout ratio of 33.84%.

Toromont Industries Ltd. (TSE:TIH - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$124.43 and traded as high as C$147.93. Toromont Industries shares last traded at C$147.86, with a volume of 105,370 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. National Bankshares increased their price target on Toromont Industries from C$130.00 to C$140.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. TD Securities raised their target price on Toromont Industries from C$153.00 to C$154.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. CIBC upped their price target on Toromont Industries from C$129.00 to C$148.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday, July 30th. Finally, Raymond James Financial boosted their price objective on shares of Toromont Industries from C$122.00 to C$125.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Toromont Industries has a consensus rating of "Moderate Buy" and a consensus target price of C$140.50.

Toromont Industries Trading Up 0.5%

The business has a 50-day moving average of C$138.92 and a 200-day moving average of C$124.43. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a market cap of C$12.01 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 3.72 and a beta of 0.65.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 5th. Toromont Industries's dividend payout ratio is 33.84%.

Insider Transactions at Toromont Industries

In related news, insider Mike Cuddy sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the transaction, the insider directly owned 36,955 shares of the company's stock, valued at approximately C$5,395,430. The trade was a 16.87% decrease in their position. Also, Director David Allan Malinauskas sold 6,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$146.10, for a total value of C$876,600.00. 0.27% of the stock is currently owned by corporate 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.

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