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

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

Analysts Set New Price Targets

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

Toromont Industries Trading Up 2.8%

The stock has a 50-day simple moving average of $151.38 and a two-hundred day simple moving average of $136.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.86 and a current ratio of 2.93. The firm has a market cap of $13.30 billion and a PE ratio of 74.48.

Toromont Industries (OTCMKTS:TMTNF) last issued its earnings results on Tuesday, April 28th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.The business had revenue of $895.28 million during the quarter, compared to analyst estimates of $842.94 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.