Toromont Industries (TSE:TIH) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$116.17 and traded as high as C$117.94. Toromont Industries shares last traded at C$117.48, with a volume of 243,582 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TIH. Scotiabank decreased their target price on Toromont Industries from C$133.50 to C$128.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. National Bankshares increased their target price on Toromont Industries from C$126.00 to C$133.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on shares of Toromont Industries from C$134.00 to C$131.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, TD Securities cut their target price on Toromont Industries from C$143.00 to C$136.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$129.63.

Toromont Industries Stock Up 0.1%

The business has a 50-day simple moving average of C$113.93 and a two-hundred day simple moving average of C$115.97. The company has a market capitalization of C$9.58 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.

Toromont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, April 4th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Toromont Industries's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 7th. Toromont Industries's payout ratio is presently 31.18%.

Insider Transactions at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction of C$575,000.00. Also, Director Frederick James Mifflin bought 500 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was purchased at an average cost of C$110.05 per share, for a total transaction of C$55,025.00. In the last ninety days, insiders have sold 20,200 shares of company stock worth $2,370,004. 0.27% of the stock is currently owned by company insiders.

About Toromont Industries

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.