Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

by · The Cerbat Gem

Toromont Industries (TSE:TIH – Get Free Report) had its target price hoisted by stock analysts at Royal Bank Of Canada from C$151.00 to C$180.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 10.71% from the stock’s previous close.

Several other research firms also recently weighed in on TIH. CIBC lifted their target price on shares of Toromont Industries from C$148.00 to C$168.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Scotiabank raised their price target on shares of Toromont Industries from C$140.00 to C$171.00 in a research report on Friday, October 17th. Raymond James Financial raised their price target on shares of Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research report on Monday. TD Securities raised their price target on shares of Toromont Industries from C$154.00 to C$179.00 in a research report on Friday, October 17th. Finally, BMO Capital Markets raised their price target on shares of Toromont Industries to C$178.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$172.88.

Check Out Our Latest Research Report on Toromont Industries

Toromont Industries Stock Down 2.0%

Toromont Industries stock opened at C$162.59 on Monday. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$168.56. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a 50 day moving average price of C$153.69 and a 200 day moving average price of C$135.34. The company has a market capitalization of C$13.23 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.72 and a beta of 0.58.

Insider Buying and Selling at Toromont Industries

In other news, insider Mike Cuddy sold 7,500 shares of Toromont Industries stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$146.00, for a total transaction of C$1,095,000.00. Following the completion of the sale, the insider directly owned 36,955 shares of the company’s stock, valued at approximately C$5,395,430. The trade was a 16.87% decrease in their position. Also, Director David Allan Malinauskas sold 6,000 shares of Toromont Industries stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total transaction of C$876,600.00. 0.27% of the stock is currently owned by insiders.

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.

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