Toromont Industries (TSE:TIH) had its target price reduced by CIBC from C$70.00 to C$68.00 in a report released on Monday, May 6th, BayStreet.CA reports.
Several other analysts have also recently commented on the stock. Raymond James lifted their price objective on shares of Toromont Industries from C$71.00 to C$75.00 and gave the company an outperform rating in a research note on Monday, May 6th. Royal Bank of Canada decreased their price objective on shares of Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating for the company in a research note on Monday, May 6th. National Bank Financial cut shares of Toromont Industries from an outperform rating to a sector perform rating and set a C$70.00 price objective for the company. in a research note on Tuesday, April 9th. Scotiabank restated a neutral rating and set a C$69.00 price objective on shares of Toromont Industries in a research note on Wednesday, February 20th. Finally, BMO Capital Markets boosted their target price on shares of Toromont Industries from C$66.00 to C$72.00 and gave the company an outperform rating in a research note on Tuesday, February 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Toromont Industries has a consensus rating of Hold and an average price target of C$69.38.
TIH stock traded down C$0.51 during trading on Monday, reaching C$59.50. The company had a trading volume of 129,311 shares, compared to its average volume of 138,567. The stock has a market capitalization of $4.96 billion and a PE ratio of 18.94. The company has a quick ratio of 0.63, a current ratio of 1.62 and a debt-to-equity ratio of 50.75. Toromont Industries has a twelve month low of C$51.02 and a twelve month high of C$70.62.
In related news, Director Randall Casson sold 17,700 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$60.75, for a total value of C$1,075,275.00. Following the completion of the sale, the director now owns 120,000 shares of the company’s stock, valued at approximately C$7,290,000. In the last three months, insiders sold 19,100 shares of company stock valued at $1,172,172.
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 is involved 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.
Further Reading: Why are analyst ratings important in trading stocks?
Receive News & Ratings for Toromont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries and related companies with MarketBeat.com's FREE daily email newsletter.