Toromont Industries (OTCMKTS:TMTNF) Hits New 52-Week High – Here’s Why

Toromont Industries Ltd. (OTCMKTS:TMTNF) hit a new 52-week high during trading on Thursday . The stock traded as high as $163.12 and last traded at $163.12, with a volume of 101 shares. The stock had previously closed at $158.6751.

Analyst Ratings Changes

Several brokerages recently commented on TMTNF. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research note on Monday, May 4th. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy”.

Toromont Industries Trading Up 2.8%

The firm has a market cap of $13.30 billion and a P/E ratio of 74.48. The firm’s fifty day moving average is $151.38 and its two-hundred day moving average is $136.60. 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 released its quarterly 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. The business had revenue of $895.28 million for the quarter, compared to analysts’ expectations of $842.94 million. Toromont Industries had a net margin of 9.63% and a return on equity of 16.35%.

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.