Yesterday, an analyst has provided a rating update for the Services sector company, Toromont Industries (TIH). Canaccord Genuity’s analyst Yuri Lynk expressed some doubt about the stock, as it was downgraded to Hold with a C$57 price target.
According to TipRanks.com, Lynk is a 4-star analyst with an average return of 5.2% and a 51.1% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, Stantec Inc, and Fluor Corp.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Toromont Industries with a C$66 average price target.
The company has a one-year high of C$68.11 and a one-year low of C$46.24. Currently, Toromont Industries has an average volume of 168.7K.
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 Monday at C$55.24.
