After Today’s Huge Decline, Is Toromont Industries Ltd’s Near-Term Analysis Negative?

 After Today's Huge Decline, Is Toromont Industries Ltd's Near Term Analysis Negative?

The stock of Toromont Industries Ltd (TSE:TIH) is a huge mover today! About 70,969 shares traded hands. Toromont Industries Ltd (TSE:TIH) has risen 16.66% since April 27, 2016 and is uptrending. It has outperformed by 10.74% the S&P500.
The move comes after 9 months negative chart setup for the $3.45B company. It was reported on Dec, 1 by Barchart.com. We have $40.53 PT which if reached, will make TSE:TIH worth $207.00 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. $43 is the highest target while $32.50 is the lowest. The $38.14 average target is -11.55% below today’s ($43.12) stock price. Toromont Industries Ltd. has been the topic of 19 analyst reports since July 29, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, January 19 report. On Wednesday, July 29 the stock rating was upgraded by BMO Capital Markets to “Outperform”. The firm earned “Hold” rating on Friday, July 22 by Canaccord Genuity. The stock has “Hold” rating given by TD Securities on Wednesday, November 9. The stock has “Sector Perform” rating given by Scotia Capital on Tuesday, November 8. RBC Capital Markets upgraded the stock to “Outperform” rating in Wednesday, July 29 report. As per Tuesday, August 4, the company rating was downgraded by Dundee Securities. RBC Capital Markets maintained Toromont Industries Ltd (TSE:TIH) rating on Tuesday, November 8. RBC Capital Markets has “Outperform” rating and $43 price target.

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 $3.45 billion. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It has a 21.93 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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