Toromont Industries Ltd. (TSE:TIH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$137.13.

Several equities research analysts have recently commented on the stock. TD Securities upped their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. BMO Capital Markets lifted their target price on Toromont Industries from C$133.00 to C$136.00 in a research report on Wednesday, July 24th. Scotiabank set a C$136.00 price target on Toromont Industries and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Finally, National Bankshares lifted their price objective on shares of Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st.

Insider Activity

In related news, Director Peter James Blake purchased 300 shares of Toromont Industries stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of C$122.53 per share, for a total transaction of C$36,758.01. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Director Peter James Blake purchased 300 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. Insiders sold a total of 5,500 shares of company stock valued at $677,864 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Toromont Industries Trading Down 0.4 %

TSE TIH opened at C$130.66 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The business has a 50 day moving average price of C$124.86 and a 200-day moving average price of C$124.68. The company has a market cap of C$10.70 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 3.72 and a beta of 0.67.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. The business had revenue of C$1.36 billion during the quarter, compared to analyst estimates of C$1.19 billion. As a group, equities analysts expect that Toromont Industries will post 6.5845 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.47%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

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.