Toromont Industries (TSE:TIH) Price Target Increased to C$125.00 by Analysts at National Bankshares

Thursday, June 10, 2021 | MarketBeat

Toromont Industries (TSE:TIH) had its price target increased by stock analysts at National Bankshares from C$108.00 to C$125.00 in a report released on Thursday, BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' target price indicates a potential upside of 14.93% from the company's current price.

A number of other research firms also recently weighed in on TIH. Raymond James boosted their target price on Toromont Industries from C$99.00 to C$110.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 5th. National Bank Financial lifted their price target on shares of Toromont Industries to C$125.00 and gave the stock an "outperform" rating in a research report on Thursday. CIBC boosted their price target on shares of Toromont Industries from C$100.00 to C$106.00 and gave the stock a "neutral" rating in a research note on Thursday, May 6th. Scotiabank lifted their target price on shares of Toromont Industries from C$115.00 to C$118.00 in a report on Thursday, May 6th. Finally, TD Securities increased their price target on Toromont Industries from C$98.00 to C$110.00 and gave the company a "hold" rating in a research note on Thursday, May 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of "Buy" and an average price target of C$112.44.

Shares of TSE:TIH traded up C$1.52 during midday trading on Thursday, reaching C$108.76. The company's stock had a trading volume of 40,824 shares, compared to its average volume of 150,930. The stock's fifty day simple moving average is C$102.18. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 37.62. Toromont Industries has a fifty-two week low of C$64.48 and a fifty-two week high of C$110.94. The company has a market capitalization of C$8.98 billion and a P/E ratio of 33.80.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, May 4th. The company reported C$0.58 EPS for the quarter, topping analysts' consensus estimates of C$0.52 by C$0.06. The company had revenue of C$806.24 million for the quarter, compared to the consensus estimate of C$748.40 million. Equities analysts predict that Toromont Industries will post 4.417003 earnings per share for the current year.

In other Toromont Industries news, Director Scott Medhurst sold 600 shares of the firm's stock in a transaction that occurred on Monday, May 31st. The shares were sold at an average price of C$109.63, for a total transaction of C$65,778.00. Following the sale, the director now directly owns 202,929 shares in the company, valued at approximately C$22,247,106.27. Insiders sold 1,658 shares of company stock valued at $177,499 over the last 90 days.

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.

See Also: Non-Fungible Token (NFT) Explained

Analyst Recommendations for Toromont Industries (TSE:TIH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is a resistance level?

7 Cyclical Stocks That Can Help You Play Defense

A cyclical stock is one that produces returns that are influenced by macroeconomic or systematic changes in the broader economy. In strong economic times, these stocks show generally strong growth because they are influenced by discretionary consumer spending. Of course, that means the opposite is true as well. When the economy is weak, these stocks may pull back further than other stocks.

Cyclical stocks cover many sectors, but travel and entertainment stocks come to mind. Airlines, hotels, and restaurants are all examples of cyclical sectors that do well during times of economic growth but are among the first to pull back in recessionary times.

Why do cyclical stocks deserve a place in an investor’s portfolio? Believe it or not, it’s for the relative predictability that they provide. Investors may enjoy speculating in growth stocks, but these are prone to bubbles. This isn’t to say that cyclical stocks are not volatile, but they offer price movement that is a bit more predictable.

In this special presentation, we’re looking at cyclical stocks that are looking strong as we come out of the pandemic. And some of these stocks held up well during the pandemic which means they’re starting from a stronger base.

View the "7 Cyclical Stocks That Can Help You Play Defense ".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.