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

Shares of Toromont Industries Ltd. (OTCMKTS:TMTNF) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $151.40 and last traded at $149.04, with a volume of 1820 shares trading hands. The stock had previously closed at $148.88.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Toromont Industries in a report on Thursday, February 12th. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. TD Securities restated a “buy” rating on shares of Toromont Industries in a research note on Tuesday, February 17th. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research note on Thursday, January 29th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Toromont Industries in a report on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Toromont Industries Trading Up 0.1%

The company’s fifty day simple moving average is $129.91 and its two-hundred day simple moving average is $117.85.

Toromont Industries (OTCMKTS:TMTNF) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.02 by $0.35. The company had revenue of $764.29 million for 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.