Toromont Industries Ltd. (TSE:TIH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$136.06.

A number of analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group upped their price objective on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. CIBC increased their price target on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada boosted their target price on Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th.

Insider Buying and Selling at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$121.25, for a total transaction of C$606,250.00. In the last 90 days, insiders have sold 10,200 shares of company stock valued at $1,204,504. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Performance

TSE:TIH opened at C$113.69 on Friday. The stock has a 50-day simple moving average of C$116.53 and a two-hundred day simple moving average of C$118.54. The firm has a market capitalization of C$9.27 billion, a PE ratio of 18.46, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$134.88. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37.

Toromont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, April 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, March 7th. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s dividend payout ratio is presently 31.18%.

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.