Toromont Industries (OTCMKTS:TMTNF) Shares Gap Up – Here’s What Happened

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $139.07, but opened at $148.25. Toromont Industries shares last traded at $148.25, with a volume of 149 shares changing hands.

Analysts Set New Price Targets

TMTNF has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a report on Thursday, June 18th. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Toromont Industries Trading Up 6.6%

The company has a 50-day moving average of $154.34 and a 200 day moving average of $153.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.73 and a quick ratio of 1.68. The company has a market cap of $12.09 billion and a PE ratio of 45.20.

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

Toromont Industries Company Profile

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.