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

Toromont Industries Ltd. (OTCMKTS:TMTNF) gapped up prior to trading 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TMTNF. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a report on Thursday. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a research note on Thursday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Toromont Industries has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The stock has a market capitalization of $12.51 billion and a PE ratio of 70.02. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.86 and a current ratio of 2.93. The firm’s 50 day moving average is $160.23 and its two-hundred day moving average is $150.75.

Toromont Industries (OTCMKTS:TMTNF) last posted 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 business had revenue of $797.03 million during the quarter, compared to the consensus estimate of $1.04 billion.

Toromont Industries Company Profile

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.