Toromont Industries (TSE:TIH) Price Target Raised to C$130.00

Toromont Industries (TSE:TIH) had its price target upped by research analysts at Raymond James from C$122.00 to C$130.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ target price points to a potential upside of 5.65% from the stock’s previous close.

A number of other analysts have also issued reports on TIH. Scotiabank dropped their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. CIBC lifted their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research note on Thursday. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. National Bankshares dropped their price target on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price target on Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$136.28.

Toromont Industries Price Performance

Shares of TSE TIH traded up C$1.76 during trading on Thursday, hitting C$123.05. 55,978 shares of the company were exchanged, compared to its average volume of 150,807. Toromont Industries has a 1 year low of C$109.83 and a 1 year high of C$135.53. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm’s fifty day moving average price is C$115.34 and its 200 day moving average price is C$121.14. The company has a market cap of C$10.04 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 3.72 and a beta of 0.68.

Insider Buying and Selling

In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is owned by corporate insiders.

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.