Could Toromont Industries Ltd Recover After Today’s Huge Decline?

 Could Toromont Industries Ltd Recover After Today's Huge Decline?

The stock of Toromont Industries Ltd (TSE:TIH) is a huge mover today! About 54,250 shares traded hands. Toromont Industries Ltd (TSE:TIH) has risen 16.33% since April 1, 2016 and is uptrending. It has outperformed by 14.38% the S&P500.
The move comes after 7 months negative chart setup for the $3.18 billion company. It was reported on Nov, 7 by Barchart.com. We have $36.54 PT which if reached, will make TSE:TIH worth $286.20 million less.

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 -11.41% below today’s ($40.15) stock price. Toromont Industries Ltd. has been the topic of 16 analyst reports since July 29, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Toromont Industries Ltd (TSE:TIH) rating on Tuesday, January 19. RBC Capital Markets has “Outperform” rating and $39 price target. Canaccord Genuity downgraded Toromont Industries Ltd (TSE:TIH) rating on Friday, July 22. Canaccord Genuity has “Hold” rating and $42 price target. The firm has “Outperform” rating given on Wednesday, July 29 by RBC Capital Markets. The firm has “Neutral” rating by Dundee Securities given on Tuesday, August 4. The firm has “Outperform” rating given on Wednesday, July 29 by BMO Capital Markets.

Another recent and important Toromont Industries Ltd (TSE:TIH) news was published by Marketwired.com which published an article titled: “Toromont Announces Results for the Second Quarter of 2016 and Quarterly Dividend” on July 26, 2016.

Toromont Industries Ltd. is a Canada company, which operates through two divisions: Equipment Group and CIMCO. The company has a market cap of $3.18 billion. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It has a 20.78 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.

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