CIBC Increases Toromont Industries (TSE:TIH) Price Target to C$128.00

Toromont Industries (TSE:TIH) had its target price increased by equities researchers at CIBC from C$127.00 to C$128.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential upside of 15.11% from the company’s current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets decreased their target price on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. National Bank Financial lowered Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada dropped their target price on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Raymond James reduced their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. Finally, Scotiabank lowered their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$135.00.

Toromont Industries Stock Performance

TIH stock traded up C$0.01 during midday trading on Thursday, reaching C$111.20. 53,675 shares of the company were exchanged, compared to its average volume of 116,278. Toromont Industries has a one year low of C$109.83 and a one year high of C$135.53. The firm has a market capitalization of C$9.11 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The business has a 50-day moving average price of C$122.06 and a two-hundred day moving average price of C$122.66. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38.

Insiders Place Their Bets

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of Toromont Industries stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Insiders own 0.27% of the company’s stock.

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.