Time to Buy Toromont Industries Ltd After Today’s Huge Decline?

 Time to Buy Toromont Industries Ltd After Today's Huge Decline?

The stock of Toromont Industries Ltd (TSE:TIH) is a huge mover today! About 18,167 shares traded hands. Toromont Industries Ltd (TSE:TIH) has risen 23.60% since April 14, 2016 and is uptrending. It has outperformed by 19.17% the S&P500.
The move comes after 9 months negative chart setup for the $3.39 billion company. It was reported on Nov, 18 by Barchart.com. We have $39.87 PT which if reached, will make TSE:TIH worth $203.40M 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. $43 is the highest target while $32.50 is the lowest. The $38.14 average target is -10.07% below today’s ($42.41) stock price. Toromont Industries Ltd. has been the topic of 19 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Wednesday, July 29, the company rating was upgraded by BMO Capital Markets. The rating was maintained by RBC Capital Markets on Tuesday, January 19 with “Outperform”. The firm earned “Neutral” rating on Tuesday, August 4 by Dundee Securities. Scotia Capital maintained the shares of TIH in a report on Tuesday, November 8 with “Sector Perform” rating. Canaccord Genuity downgraded the stock to “Hold” rating in Friday, July 22 report. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, July 29. TD Securities maintained Toromont Industries Ltd (TSE:TIH) rating on Wednesday, November 9. TD Securities has “Hold” rating and $40 price target. The stock of Toromont Industries Ltd (TSE:TIH) earned “Outperform” rating by RBC Capital Markets on Tuesday, November 8.

Another recent and important Toromont Industries Ltd (TSE:TIH) news was published by Marketwired.com which published an article titled: “Toromont Industries Ltd. – Normal Course Issuer Bid” on August 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 $3.39 billion. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It has a 21.57 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.

Tags: , ,

Related posts

Leave a Comment