BMO Capital Markets Cuts Toromont Industries (TSE:TIH) Price Target to C$140.00

Toromont Industries (TSE:TIH) had its target price trimmed by BMO Capital Markets from C$143.00 to C$140.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other equities analysts have also issued reports on TIH. Scotiabank reduced their target price on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. Royal Bank of Canada reduced their price objective on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday. Raymond James lowered their target price on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday. National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, TD Securities lifted their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$135.00.

Toromont Industries Stock Down 0.5 %

Toromont Industries stock opened at C$118.65 on Wednesday. Toromont Industries has a fifty-two week low of C$109.50 and a fifty-two week high of C$135.53. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The firm’s 50-day simple moving average is C$127.07 and its 200 day simple moving average is C$124.34. The stock has a market cap of C$9.72 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.62%. Toromont Industries’s dividend payout ratio is presently 30.62%.

Insider Activity

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Insiders have sold a total of 4,500 shares of company stock valued at $554,864 over the last quarter. Company insiders own 0.27% of the company’s stock.

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.