Toromont Industries Ltd. (OTCMKTS:TMTNF – Get Rating) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 137,000 shares, a growth of 41.2% from the July 15th total of 97,000 shares. Based on an average trading volume of 700 shares, the days-to-cover ratio is presently 195.7 days.
Analysts Set New Price Targets
Several research analysts have commented on TMTNF shares. TD Securities lifted their price target on shares of Toromont Industries from C$125.00 to C$130.00 in a research note on Friday, April 29th. Scotiabank decreased their price target on shares of Toromont Industries from C$126.00 to C$120.00 in a research note on Monday, July 25th. National Bank Financial downgraded shares of Toromont Industries from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, July 12th. BMO Capital Markets decreased their target price on shares of Toromont Industries from C$130.00 to C$120.00 in a research note on Thursday, July 28th. Finally, Canaccord Genuity Group decreased their target price on shares of Toromont Industries from C$130.00 to C$117.00 and set a "buy" rating on the stock in a research note on Thursday, July 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Toromont Industries has a consensus rating of "Moderate Buy" and an average price target of $120.89.
Get Toromont Industries alerts:Toromont Industries Stock Performance
OTCMKTS:TMTNF traded up $2.17 during trading hours on Friday, hitting $84.12. The company had a trading volume of 1,268 shares, compared to its average volume of 2,855. The stock has a 50-day moving average price of $81.46 and a 200 day moving average price of $85.98. Toromont Industries has a 52 week low of $76.15 and a 52 week high of $96.02.
About Toromont Industries
(Get Rating)Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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