Toromont Industries Ltd. (TSE:TIH) Receives C$135.38 Average Target Price from Analysts

Toromont Industries Ltd. (TSE:TIH - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$135.38.

TIH has been the subject of several research analyst reports. CIBC upped their price target on shares of Toromont Industries from C$123.00 to C$130.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. TD Securities upped their price target on shares of Toromont Industries from C$130.00 to C$140.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Raymond James upped their price target on shares of Toromont Industries from C$125.00 to C$135.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Canaccord Genuity Group upped their price target on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Finally, Scotiabank upped their price target on shares of Toromont Industries from C$125.00 to C$133.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 15th.

Toromont Industries Price Performance

Shares of Toromont Industries stock traded up C$0.32 during trading hours on Friday, reaching C$129.50. The stock had a trading volume of 56,669 shares, compared to its average volume of 94,582. The stock's 50 day moving average is C$128.37 and its 200 day moving average is C$118.74. The firm has a market capitalization of C$10.66 billion, a PE ratio of 20.30, a PEG ratio of 3.72 and a beta of 0.72. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41.

Toromont Industries (TSE:TIH - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. Equities analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, April 4th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Toromont Industries's previous quarterly dividend of $0.43. Toromont Industries's dividend payout ratio (DPR) is presently 30.09%.

Insider Buying and Selling

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

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.