Toromont Industries (OTCMKTS:TMTNF) Reaches New 1-Year High – Still a Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $148.71 and last traded at $148.71, with a volume of 170 shares traded. The stock had previously closed at $144.64.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. National Bank Financial reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Monday, November 3rd. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Thursday, January 29th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, February 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, February 12th. Finally, TD Securities reissued a “buy” rating on shares of Toromont Industries in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The firm has a 50 day moving average price of $127.66 and a 200 day moving average price of $116.58.

Toromont Industries (OTCMKTS:TMTNF) last issued its earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.35. The business had revenue of $764.29 million for the quarter, compared to the consensus estimate of $848.84 million.

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.