CIBC Forecasts Strong Price Appreciation for Toromont Industries (TSE:TIH) Stock

Toromont Industries (TSE:TIHFree Report) had its target price upped by CIBC from C$127.00 to C$128.00 in a research note published on Thursday morning,BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Raymond James dropped their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday, November 6th. National Bank Financial downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bankshares cut their target price on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Finally, Scotiabank reduced their price target on Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$135.00.

Check Out Our Latest Stock Analysis on Toromont Industries

Toromont Industries Stock Down 0.1 %

TIH stock opened at C$111.56 on Thursday. Toromont Industries has a 1-year low of C$109.83 and a 1-year high of C$135.53. The business’s 50 day simple moving average is C$121.26 and its 200 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 firm has a market capitalization of C$9.14 billion, a PE ratio of 17.79, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, January 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 1.72%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.62%.

Insiders Place Their Bets

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of C$111.45 per share, with a total value of C$501,525.00. Company insiders own 0.27% of the company’s stock.

About Toromont Industries

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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.

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Analyst Recommendations for Toromont Industries (TSE:TIH)

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