Toromont Industries (OTCMKTS:TMTNF) Share Price Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• Technical move: Toromont's shares crossed above their 50-day moving average, trading at $152.00 versus the 50-day MA of $145.30 (volume ~66,000) and were up about 0.4% on the report.
• Analyst consensus: Four analysts rate the stock Buy and two rate it Hold, giving a MarketBeat consensus of "Moderate Buy," with recent reaffirmations from TD Securities, BMO and RBC.
• Financials and recent results: Market cap is about $12.4B with a high PE of 110.95; the company beat EPS expectations ($1.37 vs $1.02) but missed revenue estimates ($764.3M vs $848.8M), and shows strong liquidity (current ratio 2.93) and low leverage (debt-to-equity 0.26).

Toromont Industries Ltd. (OTCMKTS:TMTNF - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $145.30 and traded as high as $152.00. Toromont Industries shares last traded at $152.00, with a volume of 66,000 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank reaffirmed a "sector perform" rating on shares of Toromont Industries in a research report on Thursday, January 29th. TD Securities reaffirmed a "buy" rating on shares of Toromont Industries in a research report on Tuesday, February 17th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Toromont Industries in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Toromont Industries in a research report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Toromont Industries Stock Up 0.4%

The stock has a market capitalization of $12.39 billion and a PE ratio of 110.95. The firm's fifty day moving average is $145.30 and its 200-day moving average is $127.88. The company has a quick ratio of 1.86, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Toromont Industries (OTCMKTS:TMTNF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.35. The firm had revenue of $764.29 million during the quarter, compared to analysts' expectations of $848.84 million. Toromont Industries had a net margin of 9.56% and a return on equity of 16.03%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.