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

Toromont Industries Ltd. (TSE:TIH) has earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$135.00.

Several research firms have recently commented on TIH. Raymond James lowered their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. CIBC lifted their target price on Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. National Bankshares cut their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Finally, Scotiabank decreased their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th.

Toromont Industries Stock Down 0.7 %

Shares of TIH stock opened at C$122.19 on Friday. The stock’s fifty day moving average price is C$114.59 and its 200 day moving average price is C$121.56. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. Toromont Industries has a 1-year low of C$109.83 and a 1-year high of C$135.53. The company has a market cap of C$10.01 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Monday, November 4th. The company reported C$1.59 EPS for the quarter, missing the consensus estimate of C$1.67 by C($0.08). Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. During the same quarter in the previous year, the business earned $1.76 earnings per share. On average, research analysts expect that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries’s payout ratio is currently 30.62%.

Insider Activity at Toromont Industries

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was bought at an average price 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.

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.