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

Toromont Industries Ltd. (OTCMKTS:TMTNF) gapped up before the market opened on Tuesday . The stock had previously closed at $146.49, but opened at $156.11. Toromont Industries shares last traded at $156.11, with a volume of 100 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a report on Thursday, July 30th. Raymond James Financial upgraded shares of Toromont Industries to a “market perform” rating in a report on Thursday, June 18th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, July 30th. 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The firm has a fifty day simple moving average of $151.66 and a 200-day simple moving average of $153.67. The company has a market cap of $12.73 billion and a PE ratio of 47.59. The company has a quick ratio of 1.68, a current ratio of 2.73 and a debt-to-equity ratio of 0.25.

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

Toromont Industries Company Profile

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.