Toromont Industries Ltd. (OTCMKTS:TMTNF – Get Rating) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 160,900 shares, an increase of 78.8% from the April 30th total of 90,000 shares. Based on an average daily volume of 400 shares, the short-interest ratio is currently 402.3 days.
Shares of Toromont Industries stock opened at $84.81 on Friday. The stock has a 50-day moving average price of $90.12 and a 200 day moving average price of $88.01. Toromont Industries has a 1 year low of $80.16 and a 1 year high of $96.02.
A number of brokerages have issued reports on TMTNF. Canaccord Genuity Group upped their target price on Toromont Industries from C$123.00 to C$130.00 in a research report on Friday, April 29th. Scotiabank boosted their price target on Toromont Industries from C$125.00 to C$126.00 in a report on Friday, April 29th. Royal Bank of Canada boosted their price target on Toromont Industries from C$126.00 to C$129.00 in a report on Friday, April 29th. TD Securities upped their price objective on Toromont Industries from C$125.00 to C$130.00 in a research note on Friday, April 29th. Finally, BMO Capital Markets upped their price objective on Toromont Industries from C$126.00 to C$130.00 in a research note on Friday, April 29th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $124.89.
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
- Get a free copy of the StockNews.com research report on Toromont Industries (TMTNF)
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