Toromont Industries (OTCMKTS:TMTNF) Sets New 52-Week High – Time to Buy?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares 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.

Analyst Ratings Changes

Several brokerages have recently weighed in on TMTNF. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Friday, October 31st. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a report on Monday, November 3rd. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research report on Friday, October 17th. TD Securities restated a “buy” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Finally, CIBC restated a “neutral” rating on shares of Toromont Industries in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Toromont Industries currently has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Up 3.8%

The business’s fifty day moving average price is $118.45 and its 200 day moving average price is $109.60.

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.