In a new note to investors today, an analyst has provided a rating update for Toromont Industries (TIH). Analyst Yuri Lynk from Canaccord Genuity reiterated a Hold rating, with a C$62 price target.
Lynk has an average return of 2.4% when recommending Toromont Industries.
According to TipRanks.com, Lynk is ranked #691 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, a 0.1% upside from current levels. In a report released today, RBC Capital also maintained a Hold rating on the stock with a C$66 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.
