National Bank Financial Lowers Toromont Industries (TSE:TIH) to Hold

Toromont Industries (TSE:TIH) was downgraded by National Bank Financial from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

A number of other research firms also recently weighed in on TIH. National Bankshares downgraded Toromont Industries from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. BMO Capital Markets increased their target price on Toromont Industries from C$136.00 to C$143.00 in a research note on Friday, October 18th. TD Securities raised their target price on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their price target on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$138.00.

Toromont Industries Stock Performance

Shares of TSE:TIH opened at C$129.14 on Monday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The stock has a market capitalization of C$10.58 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.72 and a beta of 0.68. The business has a 50-day moving average price of C$126.89 and a two-hundred day moving average price of C$125.03.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 EPS for the quarter, topping the consensus estimate of C$1.53 by C$0.11. Toromont Industries had a net margin of 10.86% and a return on equity of 19.65%. The company had revenue of C$1.36 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Equities analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current year.

Insider Buying and Selling at Toromont Industries

In related news, Director Peter James Blake acquired 300 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of C$122.53 per share, with a total value of C$36,758.01. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. Also, Director Peter James Blake purchased 300 shares of Toromont Industries stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of C$122.53 per share, with a total value of C$36,758.01. Over the last quarter, insiders have sold 5,500 shares of company stock valued at $677,864. 0.27% of the stock is currently owned by corporate insiders.

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 engages 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.