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

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $168.72 and last traded at $168.72, with a volume of 100 shares. The stock had previously closed at $158.4195.

Wall Street Analysts Forecast Growth

TMTNF has been the topic of several recent research reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a report on Thursday, April 30th. Raymond James Financial upgraded shares of Toromont Industries to a “market perform” rating in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Thursday, April 30th. Finally, TD Securities reiterated a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Toromont Industries has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 8.1%

The stock has a fifty day moving average of $156.38 and a 200-day moving average of $141.20. The company has a market cap of $13.80 billion and a PE ratio of 77.28. 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 released its earnings results on Tuesday, April 28th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $895.28 million for the quarter, compared to analyst estimates of $842.94 million. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.

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.