Toromont Industries (OTCMKTS:TMTNF) Reaches New 1-Year High – Here’s What Happened

Shares of Toromont Industries Ltd. (OTCMKTS:TMTNF) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $131.36 and last traded at $131.36, with a volume of 100 shares. The stock had previously closed at $127.40.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TMTNF shares. National Bankshares reiterated an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a research note on Monday, November 3rd. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a research note on Friday, October 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Friday, October 31st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Toromont Industries Price Performance

The stock’s fifty day simple moving average is $120.21 and its two-hundred day simple moving average is $111.64.

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.