Toromont Industries (OTCMKTS:TMTNF) Shares Gap Up – Here’s Why

Shares of Toromont Industries Ltd. (OTCMKTS:TMTNF) gapped up prior to trading on Tuesday . The stock had previously closed at $146.49, but opened at $156.11. Toromont Industries shares last traded at $156.11, with a volume of 100 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on TMTNF. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Raymond James Financial upgraded shares of Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The business has a 50 day simple moving average of $151.66 and a two-hundred day simple moving average of $153.67. The firm has a market cap of $12.73 billion and a PE ratio of 47.59. The company has a quick ratio of 1.68, a current ratio of 2.73 and a debt-to-equity ratio of 0.25.

Toromont Industries (OTCMKTS:TMTNF) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.24. The company 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%.

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.