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

Toromont Industries Ltd. (TSE:TIH) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$135.00.

A number of research firms have recently weighed in on TIH. Royal Bank of Canada decreased their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. CIBC boosted their target price on shares of Toromont Industries from C$127.00 to C$128.00 and gave the stock a “neutral” rating in a research report on Thursday. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets lowered their price objective on Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Finally, National Bankshares reduced their target price on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was purchased 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 owned by corporate insiders.

Toromont Industries Price Performance

Shares of TSE TIH opened at C$111.56 on Friday. 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 has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53. The business has a 50 day moving average price of C$121.65 and a two-hundred day moving average price of C$122.59. The firm has a market cap of C$9.14 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, January 6th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.72%. Toromont Industries’s dividend payout ratio is currently 30.62%.

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.