Toromont Industries (OTCMKTS:TMTNF) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price passed 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 trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TMTNF. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a report on Thursday, January 29th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. Finally, TD Securities reiterated a “buy” rating on shares of Toromont Industries in a report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Toromont Industries Price Performance

The stock has a market cap of $12.56 billion and a price-to-earnings ratio of 112.41. The company has a current ratio of 2.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $145.69 and a 200-day simple moving average of $128.17.

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

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.