Toromont Industries (OTCMKTS:TMTNF) Hits New 1-Year High – Should You Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $168.72 and last traded at $168.72, with a volume of 100 shares traded. The stock had previously closed at $158.4195.

Analyst Ratings Changes

Several research firms recently weighed in on TMTNF. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a report on Thursday. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a research report on Thursday, April 30th. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Thursday, April 30th. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research report on Monday, May 4th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Toromont Industries Trading Up 8.1%

The firm has a market capitalization of $13.80 billion and a PE ratio of 77.28. The company has a quick ratio of 1.86, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $156.38 and its 200 day simple moving average is $141.20.

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