CIBC Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price objective hoisted by investment analysts at CIBC from C$128.00 to C$129.00 in a report issued on Monday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 12.62% from the stock’s previous close.

Several other research firms have also recently weighed in on TIH. National Bankshares decreased their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. BMO Capital Markets lowered their price target on Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Royal Bank of Canada cut their price objective on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Finally, Raymond James cut their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$135.13.

Toromont Industries Price Performance

TIH traded down C$1.35 during trading on Monday, reaching C$114.54. 55,783 shares of the company were exchanged, compared to its average volume of 160,757. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The company has a market cap of C$9.38 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53. The company’s 50-day moving average is C$114.94 and its two-hundred day moving average is C$121.51.

Toromont Industries (TSE:TIH) last issued 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 firm posted $1.76 EPS. Research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were purchased 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.