Toromont Industries (TSE:TIH) PT Raised to C$142.00 at Royal Bank of Canada

Toromont Industries (TSE:TIH) had its price objective raised by Royal Bank of Canada from C$137.00 to C$142.00 in a research report report published on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Scotiabank decreased their price target on Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating for the company in a research note on Friday, May 3rd. BMO Capital Markets increased their price target on Toromont Industries from C$133.00 to C$136.00 in a research note on Wednesday, July 24th. CIBC decreased their price target on Toromont Industries from C$130.00 to C$128.00 and set a neutral rating for the company in a research note on Friday, May 3rd. Raymond James decreased their price target on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a research note on Friday, May 3rd. Finally, National Bankshares decreased their price target on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of C$135.75.

Toromont Industries Trading Down 1.0 %

Shares of TIH stock opened at C$124.46 on Thursday. The stock has a market cap of C$10.23 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 3.72 and a beta of 0.73. The stock has a 50-day moving average of C$121.75 and a 200-day moving average of C$123.87. The company has a current ratio of 2.65, a quick ratio of 1.38 and a debt-to-equity ratio of 24.51. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 6th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.92 annualized dividend and a yield of 1.54%. Toromont Industries’s dividend payout ratio is currently 30.77%.

Insiders Place Their Bets

In other news, Director Peter James Blake purchased 300 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of C$122.53 per share, for a total transaction of C$36,758.01. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

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.