Toromont Industries (OTCMKTS:TMTNF) Stock Jumps 7.6% – Time to Buy?

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

Analysts Set New Price Targets

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

Toromont Industries Stock Down 0.5%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 2.73. The stock has a market cap of $12.93 billion and a price-to-earnings ratio of 48.31. The business’s 50 day moving average is $151.50 and its 200 day moving average is $153.74.

Toromont Industries (OTCMKTS:TMTNF) last released its earnings results 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 company had revenue of $797.03 million during the quarter, compared to analyst estimates 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 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.