Toromont Industries (TSE:TIH) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Toromont Industries Ltd. (TSE:TIH)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$121.21 and traded as low as C$116.40. Toromont Industries shares last traded at C$118.31, with a volume of 75,433 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TIH. Scotiabank dropped their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Raymond James cut their price objective on Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. National Bankshares lowered their target price on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. CIBC boosted their price target on Toromont Industries from C$128.00 to C$129.00 in a report on Monday, February 3rd. Finally, Royal Bank of Canada lowered their price objective on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$135.13.

Toromont Industries Stock Performance

The stock has a 50 day moving average of C$115.02 and a 200 day moving average of C$121.21. The company has a market capitalization of C$9.69 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, January 6th were given a $0.48 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.62%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.62%.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is currently owned by corporate 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.