National Bank Financial Downgrades Toromont Industries (TSE:TIH) to Hold

Toromont Industries (TSE:TIH) was downgraded by stock analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

Other research analysts also recently issued reports about the stock. TD Securities lifted their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Scotiabank set a C$136.00 price target on shares of Toromont Industries and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upped their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, National Bankshares cut shares of Toromont Industries from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$138.00.

Toromont Industries Price Performance

TSE:TIH opened at C$129.14 on Monday. The company’s 50-day moving average is C$126.89 and its two-hundred day moving average is C$125.03. 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$10.58 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12-month low of C$100.81 and a 12-month high of C$135.53.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. The company had revenue of C$1.36 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. Research analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’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 transaction of C$75,114.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction that occurred 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. Also, Director Peter James Blake purchased 300 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. Insiders have sold a total of 5,500 shares of company stock worth $677,864 in the last ninety days. 0.27% of the stock is owned by insiders.

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.