Research analysts at Royal Bank of Canada initiated coverage on shares of Toromont Industries (OTCMKTS:TMTNF) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Other analysts also recently issued research reports about the stock. CIBC raised their price target on shares of Toromont Industries from $73.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 10th. Canaccord Genuity raised their price target on shares of Toromont Industries from $77.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Maxim Group raised their price target on shares of Toromont Industries from $76.00 to $88.50 and gave the company an “outperform” rating in a report on Thursday, October 15th. BMO Capital Markets downgraded shares of Toromont Industries from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 5th. Finally, TD Securities raised their price objective on shares of Toromont Industries from $78.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Toromont Industries presently has an average rating of “Buy” and a consensus price target of $90.71.
Shares of OTCMKTS TMTNF opened at $67.90 on Tuesday. The firm’s 50-day moving average price is $70.49 and its 200-day moving average price is $60.92. Toromont Industries has a 52-week low of $37.03 and a 52-week high of $74.03.
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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