Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$129.31 and traded as high as C$158.00. Toromont Industries shares last traded at C$157.24, with a volume of 82,738 shares changing hands.
Analyst Upgrades and Downgrades
Several equities analysts have commented on TIH shares. BMO Capital Markets raised their price objective on Toromont Industries from C$140.00 to C$147.00 in a research report on Wednesday, July 30th. Scotiabank raised their price target on Toromont Industries from C$132.00 to C$140.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. National Bankshares raised their price target 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. TD Securities raised their price target 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. Finally, CIBC raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$143.50.
View Our Latest Analysis on Toromont Industries
Toromont Industries Price Performance
The firm has a fifty day moving average of C$147.59 and a 200 day moving average of C$129.31. The company has a market capitalization of C$12.79 billion, a P/E ratio of 26.61, a P/E/G ratio of 3.72 and a beta of 0.64. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.
Toromont Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd were 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 was Friday, September 5th. Toromont Industries's dividend payout ratio (DPR) is presently 33.84%.
Insider Activity
In other Toromont Industries news, Director David Allan Malinauskas sold 6,000 shares of the firm'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. Also, insider Mike Cuddy sold 7,500 shares of the firm'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 completion of the transaction, the insider directly owned 36,955 shares in the company, valued at C$5,395,430. The trade was a 16.87% decrease in their ownership of the stock. Company insiders own 0.27% of the company's stock.
About Toromont Industries
(
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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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