Toromont Industries Ltd. (TSE:TIH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$136.06.

TIH has been the topic of a number of analyst reports. Canaccord Genuity Group upped their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Scotiabank upped their price target on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. CIBC lifted their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Finally, BMO Capital Markets raised their price target on Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th.

Toromont Industries Trading Up 2.2 %

Shares of TIH opened at C$113.92 on Monday. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. The stock has a market cap of C$9.29 billion, a PE ratio of 18.50, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The business’s 50-day moving average price is C$118.06 and its 200-day moving average price is C$120.28.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, April 4th will be paid a $0.52 dividend. The ex-dividend date is Friday, March 7th. This represents a $2.08 annualized dividend and a yield of 1.83%. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio is currently 31.18%.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00. Company insiders own 0.27% of the company’s stock.

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.