Toromont Industries (OTCMKTS:TMTNF) Hits New 52-Week High – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $121.80 and last traded at $121.80, with a volume of 100 shares traded. The stock had previously closed at $117.35.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. CIBC restated a “neutral” rating on shares of Toromont Industries in a report on Monday, October 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a report on Friday, October 31st. TD Securities reissued a “buy” rating on shares of Toromont Industries in a research note on Monday, November 3rd. National Bankshares reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Toromont Industries Price Performance

The business’s 50-day moving average price is $115.15 and its 200-day moving average price is $104.51.

About Toromont Industries

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.