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Toromont Industries (TSE:TIH – Get Free Report) had its price objective boosted by equities researchers at Raymond James Financial from C$125.00 to C$150.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s price objective suggests a potential downside of 9.80% from the stock’s current price.
Several other analysts have also commented on TIH. Canaccord Genuity Group raised their price objective on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a report on Monday. National Bankshares raised their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets raised their price objective on Toromont Industries to C$178.00 in a report on Friday. TD Securities raised their price objective on Toromont Industries from C$154.00 to C$179.00 in a report on Friday, October 17th. Finally, CIBC raised their price objective on Toromont Industries from C$148.00 to C$168.00 and gave the company a “neutral” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and a consensus target price of C$172.88.
Check Out Our Latest Stock Report on Toromont Industries
Toromont Industries Stock Performance
TIH stock traded down C$2.21 during trading on Monday, hitting C$166.30. 150,551 shares of the company traded hands, compared to its average volume of 150,086. The stock’s 50-day simple moving average is C$152.86 and its 200 day simple moving average is C$134.62. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company has a market cap of C$13.53 billion, a PE ratio of 28.14, a P/E/G ratio of 3.72 and a beta of 0.64. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$168.56.
Insider Buying and Selling
In related news, insider Mike Cuddy sold 7,500 shares of Toromont Industries stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the transaction, the insider owned 36,955 shares in the company, valued at approximately C$5,395,430. This trade represents a 16.87% decrease in their ownership of the stock. Also, Director David Allan Malinauskas sold 6,000 shares of Toromont Industries stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total value of C$876,600.00. Company insiders own 0.27% of the company’s stock.
About Toromont Industries
Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.
Further Reading
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ABMN Staff
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