Toromont Industries (OTCMKTS:TMTNF) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $161.32 and traded as high as $165.31. Toromont Industries shares last traded at $165.00, with a volume of 9,768 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMTNF. TD Securities restated a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a research report on Thursday, June 18th. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy”.

Toromont Industries Price Performance

The firm has a fifty day moving average of $161.32 and a 200 day moving average of $148.39. The company has a market capitalization of $13.46 billion and a P/E ratio of 75.34. The company has a current ratio of 2.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26.

Toromont Industries (OTCMKTS:TMTNF) last posted its earnings results on Tuesday, April 28th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. Toromont Industries had a net margin of 9.63% and a return on equity of 16.35%. The business had revenue of $895.28 million for the quarter, compared to analysts’ expectations of $842.94 million.

Toromont Industries Company Profile

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.