Toromont Industries (TIH) Stock Rating Upgraded by National Bank Financial

Toromont Industries (TSE:TIH) was upgraded by equities researchers at National Bank Financial from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday. The brokerage presently has a C$63.00 price objective on the stock. National Bank Financial’s price target indicates a potential upside of 12.86% from the stock’s current price.

A number of other research analysts have also weighed in on TIH. CIBC increased their price objective on Toromont Industries from C$59.00 to C$60.00 in a report on Monday, January 15th. Royal Bank of Canada set a C$58.00 price objective on Toromont Industries and gave the company a “sector perform” rating in a report on Monday, February 5th. Scotiabank increased their price objective on Toromont Industries from C$59.00 to C$61.00 and gave the company a “sector perform” rating in a report on Monday, February 26th. Raymond James increased their price objective on Toromont Industries from C$63.00 to C$67.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Finally, TD Securities increased their price objective on Toromont Industries from C$65.00 to C$67.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$62.50.

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Shares of TIH stock traded up C$0.15 during mid-day trading on Thursday, reaching C$55.82. The stock had a trading volume of 24,331 shares, compared to its average volume of 111,002. Toromont Industries has a 1-year low of C$43.51 and a 1-year high of C$58.79.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$0.73 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.07. The business had revenue of C$822.80 million for the quarter, compared to analyst estimates of C$728.00 million. Toromont Industries had a return on equity of 22.73% and a net margin of 7.19%.

In related news, insider Paul Randolph Jewer sold 600 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$56.50, for a total transaction of C$33,900.00. Also, Director Randall Casson sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of C$55.39, for a total value of C$193,865.00. Over the last ninety days, insiders have sold 20,200 shares of company stock worth $1,138,095.

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About Toromont Industries

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 a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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