Toromont Industries (OTCMKTS:TMTNF) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $154.05 and traded as high as $158.4195. Toromont Industries shares last traded at $158.4195, with a volume of 28 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research report on Thursday, April 30th. TD Securities reissued a “buy” rating on shares of Toromont Industries in a research report on Monday, May 4th. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a research report on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 0.3%

The stock has a market capitalization of $12.92 billion and a price-to-earnings ratio of 72.34. 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 business’s 50-day simple moving average is $154.05 and its two-hundred day simple moving average is $139.15.

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

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.