Toromont Industries (OTCMKTS:TMTNF) Hits New 12-Month High – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $141.21 and last traded at $141.21, with a volume of 15278 shares traded. The stock had previously closed at $134.60.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research note on Monday, October 20th. National Bank Financial reissued an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research note on Thursday, January 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a report on Friday, October 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The business has a 50 day moving average price of $124.14 and a two-hundred day moving average price of $114.68.

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

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.