Toromont Industries (OTCMKTS:TMTNF) Shares Up 7.6% – Time to Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares traded up 7.6% on Wednesday . The stock traded as high as $159.62 and last traded at $159.62. 313 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 33,630 shares. The stock had previously closed at $148.39.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a report on Thursday, July 30th. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a report on Thursday, June 18th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Toromont Industries Stock Up 2.2%

The company’s fifty day simple moving average is $151.57 and its 200-day simple moving average is $153.68. The firm has a market capitalization of $13.02 billion and a PE ratio of 48.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.73 and a quick ratio of 1.68.

Toromont Industries (OTCMKTS:TMTNF) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. Toromont Industries had a return on equity of 15.53% and a net margin of 9.25%.The firm had revenue of $797.03 million during the quarter, compared to analysts’ expectations of $1.04 billion.

About Toromont Industries

Toromont Industries is a Canadian company that provides equipment, engines, industrial products and related services through two primary business groups: Equipment and CIMCO Refrigeration. The company serves customers in sectors including construction, mining, transportation, utilities, power generation, agriculture and resource industries.

Through its Equipment Group, Toromont operates Caterpillar dealerships that sell, rent and service new and used heavy equipment, engines, power systems and related parts.