Shares of Toromont Industries (TIH) were revisited by a Wall Street analyst yesterday. Analyst Jacob Bout from CIBC rated Toromont Industries (TIH) a Hold, setting a C$70 price target.
According to TipRanks.com, Bout is ranked #2512 out of 5180 analysts.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Toromont Industries with a C$64.33 average price target.
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 Friday at C$65.53, close to its 52-week high of C$68.11.
