Toromont Industries Ltd. (TSE:TIH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Toromont Industries Ltd. (TSE:TIH) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$136.06.

A number of research firms recently issued reports on TIH. Raymond James raised their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. National Bankshares raised their price objective on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, CIBC raised their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$114.84 on Monday. The company has a 50 day moving average price of C$118.32 and a 200-day moving average price of C$120.07. Toromont Industries has a 52 week low of C$109.83 and a 52 week high of C$135.53. The firm has a market capitalization of C$9.37 billion, a PE ratio of 18.65, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Toromont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, March 7th. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. Toromont Industries’s payout ratio is currently 31.18%.

Insider Buying and Selling

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of C$115.00, for a total transaction of C$575,000.00. Over the last 90 days, insiders have sold 10,200 shares of company stock worth $1,204,504. 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.