Toromont Industries (OTCMKTS:TMTNF) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares 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.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TMTNF. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a report on Thursday, January 29th. TD Securities restated a “buy” rating on shares of Toromont Industries in a research note on Tuesday, February 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Thursday, February 12th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Down 0.7%

The business’s 50 day moving average is $138.12 and its 200 day moving average is $122.61. The company has a quick ratio of 1.86, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The company has a market cap of $11.89 billion and a P/E ratio of 106.55.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.35. The business had revenue of $764.29 million for the quarter, compared to the consensus estimate 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.