Toromont Industries Gets a Hold Rating from RBC Capital

By Austin Angelo

The Services sector company, Toromont Industries (TSX: TIH), has received a rating update from a Wall Street analyst today. RBC Capital’s analyst Matt Barasch reiterates their Hold rating on the shares, with a C$51 price target.

Barasch has an average return of 23.5% when recommending Toromont Industries.

According to TipRanks.com, Barasch is ranked #1230 out of 4572 analysts.

Toromont Industries has an analyst consensus of Hold, with a price target consensus of C$48.17.

The company has a one year high of C$50.45 and a one year low of C$36.19. Currently, Toromont Industries has an average volume of 93.6K.

Toromont Industries Ltd. is an investment holding company with interests in distributing construction equipment, power systems, and refrigeration systems. The company through its subsidiaries operates under two segments: Equipment Group and CIMCO. The Equipment Group segment comprises of Toromont CAT, Battlefield – The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd., and AgWest Ltd. The CIMCO segment supplies industrial and recreational compression equipment, which provides full-service capabilities including design, engineering, installation and after-market service. The company was founded on January 31, 1961 and is headquartered in Concord, Canada.

The company’s shares closed last Friday at $45.22.