National Bankshares Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price target lifted by equities research analysts at National Bankshares from C$126.00 to C$133.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ target price suggests a potential upside of 8.09% from the company’s current price.

Several other research firms have also recently weighed in on TIH. BMO Capital Markets raised their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a research note on Wednesday. CIBC raised their target price on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research note on Thursday. Canaccord Genuity Group lifted their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank boosted their price objective on shares of Toromont Industries from C$132.00 to C$133.50 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their target price 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 research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$136.28.

Toromont Industries Price Performance

Shares of TSE TIH traded up C$1.76 during midday trading on Thursday, reaching C$123.05. The stock had a trading volume of 55,978 shares, compared to its average volume of 150,807. The stock has a 50-day moving average of C$115.34 and a 200-day moving average of C$121.14. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The company has a market capitalization of C$10.04 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53.

Insider Transactions at Toromont Industries

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased 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.

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.