Brokerages Set Toromont Industries Ltd. (TSE:TIH) PT at C$135.00

Toromont Industries Ltd. (TSE:TIH) has received an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$135.00.

A number of equities research analysts recently commented on the company. BMO Capital Markets dropped their target price on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. Scotiabank dropped their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Raymond James reduced their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. Royal Bank of Canada lowered their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Finally, TD Securities increased their price target on 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.

Toromont Industries Stock Performance

Shares of TIH opened at C$116.99 on Tuesday. The stock has a 50-day moving average of C$126.93 and a two-hundred day moving average of C$124.09. 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 stock has a market cap of C$9.58 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$109.50 and a one year high of C$135.53.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.64%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.62%.

Insider Transactions at Toromont Industries

In related 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 value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Corporate 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.