Toromont Industries (TSE:TIH) Reaches New 52-Week High at $131.98

Toromont Industries Ltd. (TSE:TIH - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as C$131.98 and last traded at C$130.72, with a volume of 6003 shares traded. The stock had previously closed at C$130.35.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TIH. Canaccord Genuity Group raised their target price on shares of Toromont Industries from C$123.00 to C$138.00 and gave the company a "buy" rating in a report on Thursday, February 15th. Raymond James raised their price objective on shares of Toromont Industries from C$125.00 to C$135.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Royal Bank of Canada boosted their target price on shares of Toromont Industries from C$125.00 to C$140.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. TD Securities raised their price target on Toromont Industries from C$130.00 to C$140.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets lifted their price target on Toromont Industries from C$124.00 to C$130.00 and gave the stock an "outperform" rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Toromont Industries currently has a consensus rating of "Moderate Buy" and an average price target of C$135.38.

Toromont Industries Stock Up 0.1 %

The business's fifty day moving average price is C$123.80 and its 200 day moving average price is C$116.16. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The firm has a market capitalization of C$10.73 billion, a PE ratio of 20.44, a PEG ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping analysts' consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion for the quarter, compared to analysts' expectations of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. On average, equities research analysts forecast that Toromont Industries Ltd. will post 6.3092933 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, April 4th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, March 7th. This is a positive change from Toromont Industries's previous quarterly dividend of $0.43. This represents a $1.92 annualized dividend and a yield of 1.47%. Toromont Industries's dividend payout ratio is currently 30.09%.

Insiders Place Their Bets

In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. In related news, Director David Allan Malinauskas sold 8,700 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Also, Senior Officer Mike Cuddy sold 4,800 shares of Toromont Industries stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. In the last quarter, insiders have sold 21,700 shares of company stock worth $2,727,180. Company insiders own 0.27% of the company's stock.

Toromont Industries Company Profile

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.