RBC Capital Maintains a Hold Rating on Toromont Industries (TIH)


In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Toromont Industries (TIH). RBC Capital’s analyst Derek Spronck reiterates their Hold rating on the shares today.

According to TipRanks.com, Spronck is ranked #779 out of 5180 analysts.

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Currently, the analyst consensus on Toromont Industries is a Moderate Buy with an average price target of C$68.20, implying a 0.1% upside from current levels. In a report released yesterday, CIBC also reiterated a Hold rating on the stock with a C$70 price target.

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Based on Toromont Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$84.9 million. In comparison, last year the company had a net profit of C$59.14 million.

Toromont Industries Ltd. engages in the distribution of construction equipment, power systems, and refrigeration systems. It operates through the Equipment Group and CIMCO segments. The Equipment Group segment comprises of Toromont CAT, Battlefield, Sitech, and AgWest.

The company’s shares closed on Tuesday at C$68.11, equals to its 52-week high of C$68.11.

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