Shares of Toromont Industries Ltd. (TSE:TIH – Get Rating) have received an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$119.75.

A number of equities research analysts have commented on the company. BMO Capital Markets lowered their target price on Toromont Industries from C$130.00 to C$120.00 in a report on Thursday, July 28th. National Bank Financial cut Toromont Industries from an "outperform overweight" rating to a "sector perform overweight" rating in a report on Tuesday, July 12th. Royal Bank of Canada lowered their target price on Toromont Industries from C$129.00 to C$122.00 and set an "outperform" rating on the stock in a report on Thursday, July 28th. CIBC decreased their price objective on Toromont Industries from C$125.00 to C$107.00 in a report on Wednesday, July 13th. Finally, Scotiabank decreased their price objective on Toromont Industries from C$126.00 to C$120.00 in a report on Monday, July 25th.

Insider Buying and Selling

In related news, Director Scott Medhurst sold 300 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of C$102.09, for a total value of C$30,627.00. Following the transaction, the director now directly owns 188,229 shares of the company's stock, valued at approximately C$19,216,298.61. In other Toromont Industries news, Director David Allan Malinauskas sold 1,600 shares of the firm's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of C$107.50, for a total value of C$172,000.00. Following the transaction, the director now directly owns 2,070 shares of the company's stock, valued at C$222,525. Also, Director Scott Medhurst sold 300 shares of the firm's stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of C$102.09, for a total value of C$30,627.00. Following the completion of the transaction, the director now directly owns 188,229 shares in the company, valued at C$19,216,298.61. In the last ninety days, insiders have sold 7,400 shares of company stock valued at $790,378.

Toromont Industries Stock Performance

Toromont Industries (TSE:TIH – Get Rating) last announced its earnings results on Tuesday, July 26th. The company reported C$1.34 EPS for the quarter, beating analysts' consensus estimates of C$1.22 by C$0.12. The company had revenue of C$1.08 billion for the quarter, compared to analyst estimates of C$1.18 billion. As a group, equities analysts anticipate that Toromont Industries will post 5 EPS for the current fiscal year.

Toromont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, October 4th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Wednesday, September 7th. Toromont Industries's dividend payout ratio (DPR) is currently 33.18%.

Toromont Industries Company Profile

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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.

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