Toromont Industries (TSE:TIH) Raised to “Strong-Buy” at National Bank Financial

Toromont Industries (TSE:TIH) was upgraded by investment analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a report issued on Sunday, MarketBeat reports.

Several other analysts have also recently weighed in on TIH. Scotiabank cut their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Raymond James lowered their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. CIBC boosted their target price on shares of Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. National Bankshares decreased their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$135.00.

Toromont Industries Trading Up 1.5 %

Shares of TIH opened at C$113.27 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The firm has a market capitalization of C$9.28 billion, a P/E ratio of 18.07, a P/E/G ratio of 3.72 and a beta of 0.68. The firm has a 50-day moving average price of C$121.26 and a 200 day moving average price of C$122.52. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53.

Insider Activity at Toromont Industries

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. Corporate 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.