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.
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