Toromont Industries (TSE:TIH) Sets New 1-Year Low – Time to Sell?

Toromont Industries Ltd. (TSE:TIH) reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$0.01 and last traded at C$121.31, with a volume of 36375 shares trading hands. The stock had previously closed at C$121.47.

Analysts Set New Price Targets

A number of brokerages recently commented on TIH. Royal Bank of Canada boosted their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. CIBC boosted their price target on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Raymond James raised their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Scotiabank boosted their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets raised their price target on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$136.06.

Toromont Industries Stock Performance

The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market capitalization of C$9.83 billion, a PE ratio of 19.57, a PEG ratio of 3.72 and a beta of 0.68. The business has a 50 day simple moving average of C$117.64 and a 200 day simple moving average of C$120.72.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be given a $0.52 dividend. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, March 7th. Toromont Industries’s dividend payout ratio (DPR) is presently 31.18%.

Insider Buying and Selling

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction that occurred 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. 0.27% of the stock is owned by company 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.