Toromont Industries (OTCMKTS:TMTNF) Share Price Passes Above 50-Day Moving Average – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $138.12 and traded as high as $145.9740. Toromont Industries shares last traded at $145.9740, with a volume of 256 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TMTNF. BMO Capital Markets restated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, February 12th. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research note on Thursday, January 29th. TD Securities restated a “buy” rating on shares of Toromont Industries in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The business has a 50-day moving average of $139.12 and a 200 day moving average of $122.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.86. The company has a market cap of $11.84 billion and a PE ratio of 106.12.

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, topping the consensus estimate of $1.02 by $0.35. The business 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.