Toromont Industries (OTCMKTS:TMTNF) Hits New 1-Year High – Still a Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares reached a new 52-week high on Friday . The company traded as high as $122.81 and last traded at $122.81, with a volume of 200 shares trading hands. The stock had previously closed at $120.3950.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Securities reissued a “buy” rating on shares of Toromont Industries in a report on Monday, November 3rd. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a report on Friday, October 17th. National Bankshares reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Monday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Toromont Industries in a research note 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 has a consensus rating of “Moderate Buy”.

Toromont Industries Price Performance

The company’s 50-day moving average is $117.84 and its 200 day moving average is $108.46.

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.