Toromont Industries (TSE:TIH) Reaches New 52-Week Low – Here’s What Happened

Toromont Industries Ltd. (TSE:TIH)’s stock price reached a new 52-week low on Friday . The company traded as low as C$112.21 and last traded at C$112.33, with a volume of 39522 shares traded. The stock had previously closed at C$112.44.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada decreased their price objective on 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. Raymond James cut their price objective on Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. BMO Capital Markets lowered their target price on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday, November 6th. Finally, National Bankshares reduced their price target on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Toromont Industries currently has an average rating of “Hold” and an average price target of C$135.00.

Toromont Industries Trading Down 0.4 %

The company has a 50 day simple moving average of C$123.62 and a two-hundred day simple moving average of C$122.99. 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 company has a market cap of C$9.17 billion, a PE ratio of 18.01, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, January 6th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.72%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insiders Place Their Bets

In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. 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.