Toromont Industries (TSE:TIH) Upgraded to “Strong-Buy” at National Bank Financial

Toromont Industries (TSE:TIH) was upgraded by equities research analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a report issued on Sunday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. CIBC lifted their target price on shares of Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Scotiabank cut their price objective on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Raymond James reduced their price objective on Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their target price on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th. Finally, National Bankshares reduced their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$135.00.

Toromont Industries Stock Up 1.5 %

Shares of Toromont Industries stock opened at C$113.27 on Friday. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53. The company’s fifty day simple moving average is C$121.26 and its two-hundred day simple moving average is C$122.52. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The company has a market cap of C$9.28 billion, a P/E ratio of 18.07, a PEG ratio of 3.72 and a beta of 0.68.

Insider Activity at Toromont Industries

In other Toromont Industries news, Director Jeffrey Scott Chisholm bought 4,500 shares of Toromont Industries stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost 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.