Toromont Industries (TSE:TIH) Price Target Raised to C$133.00 at National Bankshares

Toromont Industries (TSE:TIH) had its price target boosted by National Bankshares from C$126.00 to C$133.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

TIH has been the topic of a number of other research reports. BMO Capital Markets lifted their target price on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday. CIBC lifted their price objective on Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research note on Thursday. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Scotiabank lifted their price objective on Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Toromont Industries has an average rating of “Moderate Buy” and an average target price of C$136.28.

Toromont Industries Price Performance

TSE:TIH opened at C$122.91 on Thursday. Toromont Industries has a 52 week low of C$109.83 and a 52 week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market capitalization of C$10.02 billion, a P/E ratio of 19.96, a P/E/G ratio of 3.72 and a beta of 0.68. The stock’s fifty day moving average is C$115.34 and its two-hundred day moving average is C$121.14.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, January 6th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.56%. Toromont Industries’s payout ratio is 31.18%.

Insider Buying and Selling

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is currently owned by insiders.

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.