Toromont Industries (TSE:TIH – Get Free Report) was downgraded by stock analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.
Other research analysts also recently issued reports about the stock. TD Securities lifted their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their price objective on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Scotiabank set a C$136.00 price target on shares of Toromont Industries and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upped their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, National Bankshares cut shares of Toromont Industries from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$138.00.
Get Our Latest Stock Report on TIH
Toromont Industries Price Performance
Toromont Industries (TSE:TIH – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.53 by C$0.11. The company had revenue of C$1.36 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. Research analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.
Insider Buying and Selling
In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the 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. Also, Director Peter James Blake purchased 300 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. Insiders have sold a total of 5,500 shares of company stock worth $677,864 in the last ninety days. 0.27% of the stock is owned by 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.
Featured Stories
- Five stocks we like better than Toromont Industries
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Quiet Period Expirations Explained
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
- Want to Profit on the Downtrend? Downtrends, Explained.
- Short Sellers Eye Palantir: Should You Buy the Dip?
Receive News & Ratings for Toromont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries and related companies with MarketBeat.com's FREE daily email newsletter.