Analysts have significantly raised the price target for **Toromont Industries** (TSE:TIH) from **C$125.00** to **C$150.00**, as reported by **Raymond James Financial** in a research note published on Monday. The firm maintains a market perform rating on the stock, reflecting its moderate expectations for the company’s performance in the market.
In addition to the revised price target, Raymond James Financial also projected earnings for **Toromont Industries**. The estimates include **$1.97** earnings per share (EPS) for the fourth quarter of **2025**, **$6.12** EPS for the full year of **2025**, and **$6.70** EPS for **2026**.
Further Analyst Recommendations
Toromont Industries has been the subject of several other research evaluations. **National Bankshares** increased its target price from **C$164.00** to **C$176.00**, rating the stock as “outperform.” Similarly, **Scotiabank** raised its price objective from **C$140.00** to **C$171.00** in a report released on **October 17, 2023**.
On the same day, **TD Securities** also raised its target from **C$154.00** to **C$179.00**. **Canaccord Genuity Group** boosted its target from **C$160.00** to **C$172.00**, giving a “buy” rating. Lastly, **CIBC** increased its target from **C$148.00** to **C$168.00**, issuing a “neutral” rating. Overall, data from **MarketBeat.com** indicates that **Toromont Industries** has an average rating of “Moderate Buy” with a consensus target price of **C$172.88**.
Dividend Announcements and Insider Trading
On the corporate front, **Toromont Industries** announced a quarterly dividend of **$0.52** per share, which was paid on **October 3, 2023**. Shareholders on record received this dividend, with an ex-dividend date of **September 5, 2023**. This dividend equates to an annualized payout of **$2.08**, yielding approximately **1.3%** of the current share price. The company’s dividend payout ratio stands at **33.72%**, indicating a commitment to returning value to shareholders.
In related news, insider **Mike Cuddy** sold **7,500** shares of the stock on **September 10, 2023**, at an average price of **C$146.00**, totaling **C$1,095,000.00**. Following this transaction, he retained **36,955** shares, valued at **C$5,395,430**, reflecting a **16.87%** decrease in his holdings. Additionally, **Director David Allan Malinauskas** sold **6,000** shares on the same day, amounting to **C$876,600.00**.
Corporate insiders currently own **0.27%** of **Toromont Industries** stock, which suggests limited insider trading activity but could point to confidence in the company’s future.
**Toromont Industries Ltd** is a prominent Canadian industrial company operating primarily through two segments: Equipment Group and CIMCO. The Equipment Group, which includes a **Caterpillar** dealership and construction equipment rentals, represents the larger segment by revenue. CIMCO specializes in the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems.
As the market continues to assess the potential of **Toromont Industries**, the upward revisions in price targets from multiple analysts indicate a positive outlook on the company’s performance in the near future.
