Toromont Industries (OTCMKTS:TMTNF) Reaches New 12-Month High – Should You Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares reached a new 52-week high on Monday . The stock traded as high as $122.47 and last traded at $122.47, with a volume of 105 shares. The stock had previously closed at $121.76.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TMTNF shares. Royal Bank Of Canada reissued 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 research note on Friday, October 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Friday, October 31st. CIBC reissued a “neutral” rating on shares of Toromont Industries in a research note on Monday, October 20th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Performance

The firm has a 50 day simple moving average of $116.31 and a two-hundred day simple moving average of $106.69.

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.