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

Key Points

• New 52-week high: Toromont Industries reached a new 52-week high of $156.00 on Monday (last close $154.50) on volume of about 2,300 shares.
• Mixed quarterly results: Q4 EPS beat at $1.37 vs. $1.02 expected, but revenue missed at $764.29M vs. $848.84M consensus; the stock trades at a P/E of 113.87 with a market cap around $12.72B.
• Analyst sentiment: Four analysts rate the stock Buy and two rate it Hold, giving an average rating of "Moderate Buy" with several recent reaffirmations from major firms.

Toromont Industries Ltd. (OTCMKTS:TMTNF - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $156.00 and last traded at $156.00, with a volume of 2300 shares. The stock had previously closed at $154.50.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TMTNF shares. TD Securities reaffirmed a "buy" rating on shares of Toromont Industries in a report on Tuesday, February 17th. Scotiabank reaffirmed a "sector perform" rating on shares of Toromont Industries in a research report on Thursday, January 29th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Toromont Industries in a research note on Thursday, February 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Toromont Industries in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Toromont Industries has an average rating of "Moderate Buy".

Toromont Industries Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.86. The stock's 50-day moving average is $147.06 and its 200 day moving average is $129.86. The stock has a market cap of $12.72 billion and a price-to-earnings ratio of 113.87.

Toromont Industries (OTCMKTS:TMTNF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.35. Toromont Industries had a return on equity of 16.03% and a net margin of 9.56%.The firm had revenue of $764.29 million for the quarter, compared to the consensus estimate of $848.84 million.

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.

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