Toromont Industries (OTCMKTS:TMTNF) Trading Up 17.7% – Here’s What Happened

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price rose 17.7% on Thursday . The company traded as high as $161.13 and last traded at $161.13. Approximately 379 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 21,655 shares. The stock had previously closed at $136.8901.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TMTNF. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. TD Securities reissued a “buy” rating on shares of Toromont Industries in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a report on Thursday, July 30th. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Performance

The company has a market capitalization of $12.87 billion and a P/E ratio of 48.11. The company’s 50 day moving average is $159.70 and its 200-day moving average is $151.47. The company has a current ratio of 2.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26.

Toromont Industries (OTCMKTS:TMTNF) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.24. The firm 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 16.00% and a net margin of 9.25%.

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.