Toromont Industries Ltd (TSE:TIH) had its target price boosted by Raymond James Financial, Inc. from C$58.50 to C$63.00 in a research report sent to investors on Thursday morning. The brokerage currently has an outperform rating on the stock.
A number of other analysts also recently issued reports on TIH. BMO Capital Markets reissued a market perform rating and set a C$58.00 target price on shares of Toromont Industries in a research report on Monday, October 16th. National Bank Financial reissued a sector perform rating and set a C$60.00 target price on shares of Toromont Industries in a research report on Monday, October 23rd. Scotiabank increased their target price on shares of Toromont Industries from C$47.00 to C$53.00 and gave the stock a sector perform rating in a research report on Tuesday, August 29th. TD Securities increased their target price on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a hold rating in a research report on Thursday, July 27th. Finally, Canaccord Genuity increased their target price on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a buy rating in a research report on Tuesday, August 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of C$57.63.
Shares of Toromont Industries (TSE:TIH) opened at C$56.34 on Thursday. Toromont Industries has a 1 year low of C$39.71 and a 1 year high of C$58.44.
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In other Toromont Industries news, insider Paul Randolph Jewer sold 500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of C$52.90, for a total value of C$26,450.00. Also, insider David Allan Malinauskas sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of C$57.60, for a total value of C$311,040.00. In the last 90 days, insiders sold 35,348 shares of company stock valued at $1,936,950.
Toromont Industries Company Profile
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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