Toromont Industries (OTCMKTS:TMTNF) Shares Up 7.6% – Here’s What Happened

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price traded up 7.6% on Wednesday . The stock traded as high as $159.62 and last traded at $159.62. 313 shares traded hands during trading, a decline of 99% from the average daily volume of 33,630 shares. The stock had previously closed at $148.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TMTNF shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research note on Tuesday, July 7th. Finally, Raymond James Financial upgraded shares of Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy”.

Toromont Industries Stock 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 firm’s fifty day moving average price is $151.57 and its two-hundred day moving average price is $153.68. The stock has a market capitalization of $13.02 billion and a PE ratio of 48.66.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. The firm had revenue of $797.03 million for the quarter, compared to the consensus estimate 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.