Toromont Industries (OTCMKTS:TMTNF) Sets New 1-Year High – Time to Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $131.36 and last traded at $131.36, with a volume of 100 shares. The stock had previously closed at $127.40.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TMTNF. CIBC restated a “neutral” rating on shares of Toromont Industries in a research report on Monday, October 20th. National Bankshares reiterated an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research note on Monday, November 3rd. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research note on Monday, November 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Toromont Industries Price Performance

The stock’s fifty day moving average is $121.01 and its two-hundred day moving average is $112.06.

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.