Toromont Industries Ltd. (TSE:TIH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is C$137.13.

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

Insider Buying and Selling

In other news, Director Peter James Blake purchased 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of C$122.53 per share, with a total value of C$36,758.01. In other Toromont Industries news, Director Peter James Blake purchased 300 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of C$122.53 per share, with a total value of C$36,758.01. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total transaction of C$169,750.00. Insiders have sold 5,500 shares of company stock worth $677,864 in the last 90 days. Insiders own 0.27% of the company’s stock.

Toromont Industries Stock Down 0.4 %

Shares of Toromont Industries stock opened at C$130.66 on Monday. Toromont Industries has a 52-week low of C$100.81 and a 52-week high of C$135.53. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The business’s 50 day simple moving average is C$124.75 and its 200 day simple moving average is C$124.64. The firm has a market cap of C$10.70 billion, a PE ratio of 20.84, a P/E/G ratio of 3.72 and a beta of 0.67.

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

Toromont Industries Announces Dividend

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