Toromont Industries (OTCMKTS:TMTNF) Shares Cross Below 200 Day Moving Average of $86.11

Toromont Industries Ltd. (OTCMKTS:TMTNFGet Rating) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $86.11 and traded as low as $83.22. Toromont Industries shares last traded at $83.22, with a volume of 103 shares traded.

Wall Street Analyst Weigh In

TMTNF has been the topic of a number of recent analyst reports. TD Securities raised their price target on Toromont Industries from C$125.00 to C$130.00 in a research report on Friday, April 29th. BMO Capital Markets decreased their price target on Toromont Industries from C$130.00 to C$120.00 in a research report on Thursday, July 28th. National Bank Financial cut Toromont Industries from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 12th. Scotiabank decreased their price target on Toromont Industries from C$126.00 to C$120.00 in a research report on Monday, July 25th. Finally, Canaccord Genuity Group reduced their price objective on Toromont Industries from C$130.00 to C$117.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.89.

Toromont Industries Stock Performance

The stock has a 50 day moving average price of $81.75 and a 200 day moving average price of $86.11.

Toromont Industries Company Profile

(Get Rating)

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.

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