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  • Raymond James Financial Raises Toromont Industries (TSE:TIH) Price Target to C$150.00

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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

    (Get Free Report)

    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

    Analyst Recommendations for Toromont Industries (TSE:TIH)



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  • Here are Thursday's biggest analyst calls: Nvidia, Rivian, Apple, AMD, Amazon, Biogen, DataDog, Bumble & more

    Here are Thursday's biggest analyst calls: Nvidia, Rivian, Apple, AMD, Amazon, Biogen, DataDog, Bumble & more

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  • Stocks making the biggest moves midday: Best Buy, Big Lots, Coinbase, Nio and more

    Stocks making the biggest moves midday: Best Buy, Big Lots, Coinbase, Nio and more

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    Check out the companies making headlines in midday trading.

    Best Buy  — Shares popped nearly 6% after the retailer’s fiscal second-quarter earnings beat on both the top and bottom lines. Adjusted earnings per share came in at $1.22, versus the $1.06 expected from analysts polled by Refintiv. Revenue was $9.58 billion, topping the consensus estimate of $9.52 billion. However, Best Buy lowered the top end of its revenue outlook for the year.

    Big Lots — The discount retailer surged 26.7% after its earnings report came in better than analysts expected. Big Lots lost $3.24 per share, on an adjusted basis, less than the $4.11 forecasted by analysts surveyed by FactSet. Revenue exceeded the consensus estimate of $1.1 billion, coming in at $1.14 billion.

    Coinbase, Marathon Digital, Riot Platforms — Stocks tied to the cryptocurrency industry soared after a court ruled against the Securities and Exchange Commission in a lawsuit about spot bitcoin ETFs. Shares of Coinbase, which is named as a custodial partner in several proposed bitcoin ETFs, jumped 13%. Bitcoin mining stocks also rose, with Marathon Digital surging 24% and Riot Platforms climbing 15%.

    3M — Shares gained 2.6% after the company agreed to settle lawsuits regarding potentially defective U.S. military earplugs for $6.01 billion. The deal had grown into the largest mass tort litigation in U.S. history.

    Heico — The engine and aircraft part maker retreated 3.1%. Despite beating expectations for revenue in the quarter, the company said its operating margin fell when compared with the same quarter a year ago.

    Nio — The Chinese electric vehicle maker slid 5.8% after posting a wider quarterly loss than anticipated. Industry giant Tesla climbed more than 5.4%.

    Nvidia — The artificial intelligence stock rallied 4%, part of a broader ascent among technology stocks in Tuesday’s session. Morgan Stanley reiterated its overweight rating on the stock, noting its strong earnings report last week can be a positive signal for the AI supply chain.

    PDD Holdings — U.S.-listed shares jumped 17.8%. The Chinese e-commerce company beat Wall Street expectations when reporting second-quarter earnings. It noted a positive shift in consumer sentiment during the quarter.

    Oracle — Software giant Oracle climbed 2.9% following an upgrade from UBS to buy from neutral. UBS said the stock could have upside ahead due to tailwinds tied to artificial intelligence.

    AT&T, Verizon — The telecommunication giants each added 2.3% on the back of a Citi upgrade to buy. The firm cited stabilization in the wireless environment and said the stocks’ valuations may be over-discounting potential costs tied to mitigating lead-covered cables.

    Alphabet, General Motors — Google Cloud and General Motors said Tuesday they’re working together to explore artificial intelligence opportunities across the automaker’s business. Following the announcement, shares of Google Cloud’s parent company Alphabet and General Motors rose 3.5% and 0.6%, respectively, during midday trading.

    Catalent — Catalent jumped more than 5% after the biotech company issued a solid revenue outlook and announced a deal with activist investor Elliott Investment Management. For fiscal 2024, Catalent forecasted revenue in the range of $4.30 billion to 4.50 billion, far above the $4.19 billion expected by analysts polled by FactSet. Additionally, Catalent agreed to name four new independent directors to its board, two of whom will be nominated by Elliott. It also agreed to a review of its business and strategy.

    Ginkgo Bioworks — The biotechnology company’s stock popped more than 18% after announcing a five-year cloud and AI partnership with Google Cloud. As part of the deal, Ginkgo Bioworks will work to create new large language models for biology and biosecurity uses. Alphabet shares were last up more than 3%.

    Rockwell Automation — The industrial stock gained nearly 2% after Wells Fargo upgraded the stock to equal weight from underweight. The Wall Street firm said it’s bullish on Rockwell’s earnings growth potential.

    Airbnb — The vacation booking platform climbed 4.8%. Bernstein reiterated its outperform rating and said investors should buy the stock after a recent pullback in share prices.

    Palantir – The software stock surged more than 5%. Bank of America reiterated its buy rating on Palantir, calling the company a “key player” in implementing secure AI despite the recent share pullback.

    Splunk — Shares of the software company added 1.8% on Tuesday after Jefferies named the company a top pick in a Tuesday note. Jefferies said Splunk is now in position to deliver “mid-teens” increases in annual revenue after a management overhaul that began 18 months ago.

    Futu Holdings — The Asian wealth management stock popped 10% following a double-upgrade to buy from underperform by Bank of America. The Wall Street bank said to expect more growth in overseas markets.

    NextEra Energy Partners — The energy stock advanced 3.7% on the back of an upgrade from Raymond James to outperform from market perform. Raymond James said investors should buy the dip on the stock.

    — CNBC’s Sarah Min, Samantha Subin, Yun Li, Hakyung Kim, Michelle Fox, Pia Singh and Jesse Pound contributed reporting

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  • Stocks making the biggest moves midday: Micron, Paramount, McCormick and more

    Stocks making the biggest moves midday: Micron, Paramount, McCormick and more

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    Micron Technology headquarters in Boise, Idaho, March 28, 2021.

    Jeremy Erickson | Bloomberg | Getty Images

    Check out the companies making headlines in midday trading Tuesday.

    PagSeguro — Shares popped 5.3% after Citi upgraded the Brazilian payment stock to buy from neutral. The firm called the company’s fourth-quarter earnings unsurprising and said it is still in rough waters, but shares were more attractive following recent underperformance. Stone, which was also upgraded by Citi to buy from neutral, edged higher as well on Tuesday.

    Affirm — The pay-later service dropped 6.9% after Apple announced a competing service. Apple shares were down about 0.9%.

    Occidental Petroleum — The energy stock jumped nearly 4% after a regulatory filing showed Warren Buffett’s Berkshire Hathaway purchased an additional 3.7 million shares for $216 million on Monday and last Thursday. TD Cowen upgraded Occidental to outperform from market perform following the news.

    Micron Technology — The semiconductor stock was down 2.8% ahead of its scheduled second-quarter earnings report after the bell on Tuesday. Analysts expect revenue of $3.71 billion and a loss per share of 67 cents, according to FactSet. Micron’s shares have gained more than 14% in the last six months. 

    PVH — Shares soared 18.9% after the apparel company’s fourth-quarter adjusted earnings per share came in at $2.38, beating estimates of $1.67, per Refinitiv. Its revenue of $2.49 billion beat expectations of $2.37 billion. PVH’s guidance for the first quarter and full year also surpassed estimates.

    Paramount — Shares of the media giant gained 3.6% during midday trading on a rating upgrade from Bank of America from neutral to buy. The bank highlighted Paramount’s strong lineup of assets that could help the business in the event it puts itself up for sale.

    McCormick & Company — The spice maker’s stock price jumped about 10% during midday trading after reporting better-than-expected earnings for the first quarter. McCormick reported quarterly earnings of 59 cents per share, while analysts surveyed by FactSet expected 50 cents per share. 

    Alibaba — Shares soared by 12% after the e-commerce giant said it would split its company into six separate business groups, with each group having the potential to raise outside funding and go public.

    Ciena — The technology company advanced 4.9% after Raymond James upgraded the stock to strong buy from outperform.

    Walgreens Boots Alliance – Shares of the pharmacy giant rose more than 3% midday after the company reported an increase in its quarterly revenue despite seeing a sharp decline in demand for Covid tests and vaccines. Walgreens posted revenue of $34.86 billion for the most recent quarter, compared to analysts’ estimates of $33.53 billion, according to Refinitiv.

    Carnival Corp — The cruise operator’s stock price rose 5.9% on Tuesday after Wells Fargo upgraded Carnival to equal weight from underweight. The firm said it sees a more balanced risk/reward for the company

    — CNBC’s Alex Harring, Yun Li, Jesse Pound and Michelle Fox Theobald contributed reporting.

    Correction: According to FactSet, Micron is expected to post a loss of 67 cents per share. A previous version misstated the estimate.

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  • 2022 didn’t go as expected for bank investors. How to avoid pitfalls in the sector in 2023

    2022 didn’t go as expected for bank investors. How to avoid pitfalls in the sector in 2023

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