Toromont Industries (OTCMKTS:TMTNF) Shares Gap Up – Still a Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $139.07, but opened at $148.25. Toromont Industries shares last traded at $148.25, with a volume of 149 shares.

Wall Street Analysts Forecast Growth

TMTNF has been the subject of a number of research analyst reports. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. 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, Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Toromont Industries Price Performance

The company has a current ratio of 2.73, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $153.73 and its 200 day moving average is $153.88. The firm has a market capitalization of $11.95 billion and a P/E ratio of 44.66.

Toromont Industries (OTCMKTS:TMTNF) last issued its earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. The firm had revenue of $797.03 million during the quarter, compared to analysts’ expectations of $1.04 billion. Toromont Industries had a net margin of 9.25% and a return on equity of 15.53%.

About Toromont Industries

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.