Toromont Industries (TSE:TIH) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

by · The Markets Daily

Toromont Industries Ltd. (TSE:TIH – Get Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$155.91 and traded as high as C$182.89. Toromont Industries shares last traded at C$176.14, with a volume of 269,820 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on TIH. BMO Capital Markets upped their price target on Toromont Industries to C$178.00 in a research note on Friday, October 31st. TD Securities upped their target price on shares of Toromont Industries from C$179.00 to C$180.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Royal Bank Of Canada lifted their price target on shares of Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Raymond James Financial boosted 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 note on Monday, November 3rd. Finally, CIBC increased their price objective on shares of Toromont Industries from C$168.00 to C$172.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$172.88.

View Our Latest Analysis on Toromont Industries

Toromont Industries Stock Performance

The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The company has a market capitalization of C$14.11 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 3.72 and a beta of 0.58. The stock’s fifty day simple moving average is C$168.71 and its 200-day simple moving average is C$156.22.

Toromont Industries (TSE:TIH – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 earnings per share for the quarter. The business had revenue of C$1.31 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. Analysts predict that Toromont Industries Ltd. will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, December 5th. Toromont Industries’s dividend payout ratio (DPR) is presently 33.72%.

Insider Buying and Selling at Toromont Industries

In related news, insider Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the sale, the insider owned 12,012 shares of the company’s stock, valued at C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.

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