Toromont Industries (OTCMKTS:TMTNF) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $153.77 and traded as low as $146.80. Toromont Industries shares last traded at $146.80, with a volume of 1,202 shares trading hands.

Analyst Ratings Changes

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

Toromont Industries Stock Down 0.2%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 2.73. The stock has a market cap of $11.95 billion and a price-to-earnings ratio of 44.66. The firm’s 50-day simple moving average is $151.90 and its two-hundred day simple moving average is $153.72.

Toromont Industries (OTCMKTS:TMTNF) last announced its 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. Toromont Industries had a net margin of 9.25% and a return on equity of 15.53%. The company had revenue of $797.03 million for the quarter, compared to analyst estimates of $1.04 billion.

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.