Toromont Industries (TSE:TIH) Price Target Cut to C$138.00 by Analysts at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its target price cut by equities research analysts at Royal Bank of Canada from C$142.00 to C$138.00 in a report released on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 14.20% from the stock’s current price.

A number of other research firms have also recently issued reports on TIH. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets increased their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Scotiabank lowered their price objective on Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday. National Bankshares dropped their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Finally, TD Securities increased their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$135.00.

Toromont Industries Stock Performance

Shares of TIH traded up C$1.83 during midday trading on Wednesday, reaching C$120.84. The stock had a trading volume of 238,672 shares, compared to its average volume of 106,025. Toromont Industries has a one year low of C$107.82 and a one year 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 24.08. The firm has a market cap of C$9.90 billion, a PE ratio of 19.06, a P/E/G ratio of 3.72 and a beta of 0.68. The firm has a 50 day simple moving average of C$127.23 and a 200-day simple moving average of C$124.56.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. Over the last three months, insiders have sold 5,500 shares of company stock valued at $677,864. 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.