Toromont Industries (OTCMKTS:TMTNF) Reaches New 52-Week High – Should You Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $161.64 and last traded at $161.64, with a volume of 100 shares traded. The stock had previously closed at $158.00.

Analyst Ratings Changes

Several research analysts have recently issued reports on TMTNF shares. TD Securities reissued a “buy” rating on shares of Toromont Industries in a research note on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Finally, Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Toromont Industries Price Performance

The company has a 50 day moving average of $148.06 and a two-hundred day moving average of $131.64. The firm has a market cap of $13.21 billion and a P/E ratio of 118.28. The company has a quick ratio of 1.86, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Toromont Industries (OTCMKTS:TMTNF) last announced its earnings results on Tuesday, April 28th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.The business had revenue of $895.28 million during the quarter, compared to analysts’ expectations of $842.94 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.