Toromont Industries (OTCMKTS:TMTNF) Shares Gap Up – Time to Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $136.8901, but opened at $153.35. Toromont Industries shares last traded at $153.35, with a volume of 131 shares traded.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a research report on Thursday. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Finally, Raymond James Financial upgraded shares of Toromont Industries to a “market perform” rating in a research note on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 12.0%

The company has a market cap of $12.51 billion and a price-to-earnings ratio of 70.02. 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 business’s fifty day simple moving average is $160.23 and its two-hundred day simple moving average is $150.75.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.85 by $0.24. Toromont Industries had a net margin of 9.25% and a return on equity of 16.00%. The firm had revenue of $797.03 million for the quarter, compared to analyst estimates of $1.04 billion.

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.