Toromont Industries (OTCMKTS:TMTNF) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $161.32 and traded as high as $165.31. Toromont Industries shares last traded at $165.00, with a volume of 9,768 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TMTNF shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a report on Wednesday, July 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Wednesday, April 29th. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a research report on Monday, May 4th. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Up 2.7%

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 stock has a market cap of $13.46 billion and a PE ratio of 75.34. The business has a fifty day moving average of $161.32 and a 200-day moving average of $148.39.

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, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $895.28 million during 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.