Toromont Industries (OTCMKTS:TMTNF) Sets New 1-Year High – Should You Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares reached a new 52-week high during trading on Friday . The stock traded as high as $162.17 and last traded at $162.17, with a volume of 100 shares. The stock had previously closed at $162.05.

Wall Street Analyst Weigh In

TMTNF has been the subject of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, April 30th. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Thursday, April 30th. 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 data from MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 2.2%

The company has a 50-day moving average price of $149.10 and a 200-day moving average price of $133.63. The firm has a market capitalization of $13.22 billion and a price-to-earnings ratio of 74.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.86 and a current ratio of 2.93.

Toromont Industries (OTCMKTS:TMTNF) last posted 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 the consensus estimate of $842.94 million.

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.