Does Toromont Industries Ltd Have Any Gas After Today’s Huge Increase?

 Does Toromont Industries Ltd Have Any Gas After Today's Huge Increase?

The stock of Toromont Industries Ltd (TSE:TIH) is a huge mover today! About 56,514 shares traded hands. Toromont Industries Ltd (TSE:TIH) has risen 18.80% since March 29, 2016 and is uptrending. It has outperformed by 16.28% the S&P500.
The move comes after 9 months positive chart setup for the $3.17B company. It was reported on Nov, 2 by Barchart.com. We have $65.78 PT which if reached, will make TSE:TIH worth $2.03B more.

Toromont Industries Ltd (TSE:TIH) Ratings Coverage

Out of 7 analysts covering Toromont Industries Ltd. (TSE:TIH), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $42 is the highest target while $32.50 is the lowest. The $35.57 average target is -11.32% below today’s ($40.11) stock price. Toromont Industries Ltd. has been the topic of 16 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was downgraded by Canaccord Genuity to “Hold” on Friday, July 22. RBC Capital Markets upgraded the shares of TIH in a report on Wednesday, July 29 to “Outperform” rating. The firm earned “Neutral” rating on Tuesday, August 4 by Dundee Securities. As per Tuesday, January 19, the company rating was maintained by RBC Capital Markets. BMO Capital Markets upgraded the stock to “Outperform” rating in Wednesday, July 29 report.

More news for Toromont Industries Ltd (TSE:TIH) were recently published by: Marketwired.com, which released: “Toromont Announces Results for the Second Quarter of 2016 and Quarterly Dividend” on July 26, 2016. Theglobeandmail.com‘s article titled: “How Caterpillar dealer Toromont is weathering the oil price storm” and published on January 14, 2015 is yet another important article.

Toromont Industries Ltd. is a Canada company, which operates through two divisions: Equipment Group and CIMCO. The company has a market cap of $3.17 billion. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It has a 20.76 P/E ratio. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd. and AgWest Ltd.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment