Toromont Industries Ltd. (OTCMKTS:TMTNF) Short Interest Up 34.7% in February

Toromont Industries Ltd. (OTCMKTS:TMTNF – Get Rating) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 129,700 shares, a growth of 34.7% from the February 13th total of 96,300 shares. Based on an average trading volume of 2,800 shares, the short-interest ratio is presently 46.3 days.

Toromont Industries Price Performance

Shares of OTCMKTS:TMTNF opened at $81.12 on Friday. Toromont Industries has a 1-year low of $70.14 and a 1-year high of $96.02. The business has a 50-day moving average price of $77.46 and a two-hundred day moving average price of $75.71.

Analyst Ratings Changes

A number of research firms recently weighed in on TMTNF. CIBC raised their price target on Toromont Industries from C$111.00 to C$113.00 in a report on Thursday, February 16th. National Bank Financial upgraded Toromont Industries from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 11th. BMO Capital Markets increased their price objective on shares of Toromont Industries from C$112.00 to C$118.00 in a report on Thursday, February 16th. Scotiabank boosted their target price on shares of Toromont Industries from C$121.00 to C$125.00 in a research note on Thursday, February 16th. Finally, Raymond James increased their price target on shares of Toromont Industries from C$120.00 to C$125.00 in a research note on Wednesday, February 15th.

About Toromont Industries

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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 CIMCO segment relates in the design, engineering, fabrication, installation, and after-sale support of refrigeration systems in industrial and recreational markets.