Toromont Industries (TSE:TIH) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Toromont Industries' share price recently surpassed its two hundred day moving average, currently trading at C$154.32, with a market capitalization of C$12.56 billion.
• Analysts have raised their target prices for the stock, with CIBC setting a target of C$148.00 and TD Securities at C$154.00, indicating a consensus rating of "Moderate Buy."
• The company has announced a quarterly dividend of $0.52, scheduled for payment on October 3rd, representing an annual yield of 1.3% and a payout ratio of 33.84%.

Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$127.33 and traded as high as C$155.16. Toromont Industries shares last traded at C$154.32, with a volume of 105,877 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TIH shares. CIBC upped their target price on Toromont Industries from C$129.00 to C$148.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. BMO Capital Markets upped their target price on Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday, July 30th. TD Securities upped their target price on Toromont Industries from C$153.00 to C$154.00 and gave the company a "buy" rating in a report on Thursday, July 31st. National Bankshares upped their target price on Toromont Industries from C$140.00 to C$164.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, Raymond James Financial upped their target price on 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 analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$143.50.

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 50-day simple moving average of C$144.66 and a two-hundred day simple moving average of C$127.33. The company has a market capitalization of C$12.56 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 3.72 and a beta of 0.65.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 5th. Toromont Industries's dividend payout ratio is presently 33.84%.

Insider Activity

In other Toromont Industries news, insider Mike Cuddy sold 7,500 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the transaction, the insider directly owned 36,955 shares of the company's stock, valued at C$5,395,430. This represents a 16.87% decrease in their position. Also, Director David Allan Malinauskas sold 6,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total value of C$876,600.00. Corporate insiders own 0.27% of the company's stock.

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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