Toromont Industries (OTCMKTS:TMTNF) Stock Passes Above 50-Day Moving Average – Time to Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $154.05 and traded as high as $158.4195. Toromont Industries shares last traded at $158.4195, with a volume of 28 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TMTNF. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Toromont Industries in a report on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a report on Thursday, April 30th. Finally, TD Securities restated a “buy” rating on shares of Toromont Industries in a research note on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy”.

Toromont Industries Price Performance

The stock has a 50 day moving average of $154.85 and a 200-day moving average of $139.75. The firm has a market capitalization of $12.76 billion and a P/E ratio of 71.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.86 and a current ratio of 2.93.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.The business had revenue of $895.28 million for the quarter, compared to analysts’ expectations of $842.94 million.

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.