Toromont Industries (TSE:TIH) Given New C$133.50 Price Target at Scotiabank

Toromont Industries (TSE:TIH) had its price objective boosted by Scotiabank from C$132.00 to C$133.50 in a report issued on Thursday morning,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

TIH has been the topic of several other research reports. National Bankshares decreased their price objective on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday. Royal Bank of Canada reduced their price target on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their price target on Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a report on Thursday. Finally, National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$136.28.

Toromont Industries Trading Up 1.3 %

TSE TIH opened at C$122.91 on Thursday. The stock’s 50-day simple moving average is C$115.34 and its two-hundred day simple moving average is C$121.14. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market capitalization of C$10.02 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.56%. Toromont Industries’s payout ratio is 31.18%.

Insider Buying and Selling at Toromont Industries

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction 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. 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.