Toromont Industries (OTCMKTS:TMTNF) Reaches New 52-Week High – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $126.43 and last traded at $126.43, with a volume of 100 shares changing hands. The stock had previously closed at $122.93.

Wall Street Analyst Weigh In

TMTNF has been the subject of a number of recent research reports. TD Securities restated a “buy” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Friday, October 17th. National Bankshares reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Monday, November 3rd. CIBC reiterated a “neutral” rating on shares of Toromont Industries in a report on Monday, October 20th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Toromont Industries in a research report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 3.8%

The business has a 50-day simple moving average of $118.70 and a 200 day simple moving average of $110.00.

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.