Toromont Industries (OTCMKTS:TMTNF) Stock Passes Above Fifty Day Moving Average – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $109.05 and traded as high as $114.9460. Toromont Industries shares last traded at $114.9460, with a volume of 42,753 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research report on Friday, October 17th. CIBC reiterated a “neutral” rating on shares of Toromont Industries in a research report on Monday, October 20th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Toromont Industries Stock Performance

The business has a 50-day simple moving average of $109.05 and a two-hundred day simple moving average of $96.29.

About Toromont Industries

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.