Toromont Industries (TSE:TIH) Cut to “Sector Perform” at Scotiabank

Scotiabank downgraded shares of Toromont Industries (TSE:TIHFree Report) from an outperform rating to a sector perform rating in a research report report published on Tuesday morning, BayStreet.CA reports. Scotiabank currently has C$125.00 target price on the stock, up from their previous target price of C$124.00.

Several other equities analysts have also issued reports on the company. CIBC lifted their price target on Toromont Industries from C$116.00 to C$123.00 and gave the stock a neutral rating in a research report on Friday, January 12th. Raymond James reduced their price objective on Toromont Industries from C$130.00 to C$125.00 and set an outperform rating for the company in a report on Thursday, November 2nd. National Bankshares lifted their price objective on Toromont Industries from C$128.00 to C$129.00 and gave the stock an outperform rating in a report on Tuesday, October 31st. Canaccord Genuity Group reduced their price objective on Toromont Industries from C$127.00 to C$123.00 and set a buy rating for the company in a report on Wednesday, November 1st. Finally, BMO Capital Markets lifted their price objective on Toromont Industries from C$116.00 to C$124.00 in a report on Monday, December 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of C$125.50.

Get Our Latest Analysis on Toromont Industries

Toromont Industries Trading Up 0.5 %

Shares of Toromont Industries stock traded up C$0.58 on Tuesday, hitting C$116.87. The stock had a trading volume of 50,119 shares, compared to its average volume of 64,917. The stock has a market cap of C$9.62 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.72 and a beta of 0.75. The stock’s 50-day simple moving average is C$114.50 and its two-hundred day simple moving average is C$111.73. Toromont Industries has a one year low of C$100.81 and a one year high of C$118.58. The company has a quick ratio of 1.38, a current ratio of 2.72 and a debt-to-equity ratio of 25.73.

Toromont Industries (TSE:TIHGet Free Report) last announced its quarterly earnings data on Monday, October 30th. The company reported C$1.76 EPS for the quarter, beating the consensus estimate of C$1.52 by C$0.24. The business had revenue of C$1.17 billion during the quarter, compared to analyst estimates of C$1.23 billion. Toromont Industries had a return on equity of 22.32% and a net margin of 11.65%. As a group, sell-side analysts predict that Toromont Industries will post 6.0359562 EPS for the current year.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, January 4th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.72 annualized dividend and a dividend yield of 1.47%. Toromont Industries’s dividend payout ratio (DPR) is 26.50%.

Insider Transactions at Toromont Industries

In other news, Director Scott Medhurst sold 362 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of C$112.31, for a total transaction of C$40,656.22. In other Toromont Industries news, Director Scott Medhurst sold 362 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of C$112.31, for a total value of C$40,656.22. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of C$115.06, for a total value of C$69,036.00. Insiders have sold 10,671 shares of company stock valued at $1,194,069 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

About Toromont Industries

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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.

Further Reading

Analyst Recommendations for Toromont Industries (TSE:TIH)

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