National Bank Financial Upgrades Toromont Industries (TSE:TIH) to Strong-Buy

National Bank Financial upgraded shares of Toromont Industries (TSE:TIH) from a hold rating to a strong-buy rating in a report released on Sunday,Zacks.com reports.

TIH has been the subject of several other research reports. Scotiabank dropped their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Royal Bank of Canada cut their price target on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. BMO Capital Markets reduced their price objective on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. CIBC upped their target price on Toromont Industries from C$127.00 to C$128.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, National Bankshares reduced their price target on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy” and an average target price of C$135.00.

Toromont Industries Price Performance

Toromont Industries stock opened at C$113.27 on Friday. The company has a fifty day simple moving average of C$121.26 and a 200-day simple moving average of C$122.52. The firm has a market capitalization of C$9.28 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, January 6th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.70%. Toromont Industries’s dividend payout ratio is currently 30.62%.

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 stock was purchased at an average price of C$111.45 per share, for a total transaction 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.