Toromont Industries (OTCMKTS:TMTNF) Sets New 12-Month High – Here’s Why

Toromont Industries Ltd. (OTCMKTS:TMTNF) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $148.71 and last traded at $148.71, with a volume of 170 shares changing hands. The stock had previously closed at $144.64.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, February 12th. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a report on Tuesday. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a research report on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Toromont Industries in a research note on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Toromont Industries currently has a consensus rating of “Moderate Buy”.

Toromont Industries Trading Down 0.0%

The stock has a 50 day moving average price of $127.66 and a two-hundred day moving average price of $116.58.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.02 by $0.35. The company had revenue of $764.29 million during the quarter, compared to analysts’ expectations of $848.84 million.

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.