Toromont Industries (OTCMKTS:TMTNF) Sets New 12-Month High – Here’s What Happened

Toromont Industries Ltd. (OTCMKTS:TMTNF) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $141.21 and last traded at $141.21, with a volume of 15278 shares traded. The stock had previously closed at $134.60.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TMTNF shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Toromont Industries in a research report on Monday, October 20th. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research note on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research report on Thursday. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Thursday, January 29th. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 2.0%

The firm’s fifty day moving average is $125.29 and its 200 day moving average is $115.24.

Toromont Industries (OTCMKTS:TMTNF) last released its earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.35. The company had revenue of $764.29 million during the quarter, compared to analysts’ expectations 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.