Toromont Industries (TSE:TIH) Given New C$122.00 Price Target at Raymond James

Toromont Industries (TSE:TIH) had its target price reduced by equities researchers at Raymond James from C$132.00 to C$122.00 in a report released on Wednesday, BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 0.96% from the stock’s previous close.

TIH has been the topic of several other reports. BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a research note on Friday, October 18th. Royal Bank of Canada lowered their target price on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. Scotiabank reduced their price target on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. TD Securities upped their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, National Bank Financial downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Toromont Industries currently has an average rating of “Hold” and a consensus price target of C$135.00.

Toromont Industries Stock Up 1.5 %

TSE TIH traded up C$1.83 during trading on Wednesday, reaching C$120.84. 238,672 shares of the company’s stock were exchanged, compared to its average volume of 106,025. Toromont Industries has a 1 year low of C$107.82 and a 1 year high of C$135.53. The stock has a market cap of C$9.90 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. 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 company has a 50 day moving average price of C$127.23 and a two-hundred day moving average price of C$124.56.

Insiders Place Their Bets

In other 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 value of C$75,114.00. In related news, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s 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. In the last three months, insiders sold 5,500 shares of company stock valued at $677,864. 0.27% of the stock is currently owned by 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.