Toromont Industries (OTCMKTS:TMTNF) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $145.30 and traded as high as $152.00. Toromont Industries shares last traded at $152.00, with a volume of 66,000 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Thursday, January 29th. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research report on Tuesday, February 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Up 0.4%

The stock has a market capitalization of $12.39 billion and a PE ratio of 110.95. The firm’s fifty day moving average is $145.30 and its 200-day moving average is $127.88. The company has a quick ratio of 1.86, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Toromont Industries (OTCMKTS:TMTNF) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.35. The firm had revenue of $764.29 million during the quarter, compared to analysts’ expectations of $848.84 million. Toromont Industries had a net margin of 9.56% and a return on equity of 16.03%.

About Toromont Industries

Toromont Industries Ltd. is a Canadian diversified industrial equipment and services company. Through its Toromont CAT division, it serves as a major dealer for Caterpillar machinery, offering sales, rentals, parts and service support for a wide range of heavy-duty equipment. Products include earth-moving, paving and compaction machinery, material handling equipment and power generation systems tailored to the needs of construction, mining, forestry, marine and energy sectors.

The company’s CIMCO Refrigeration business provides design-build, installation and maintenance of industrial and commercial refrigeration systems.