Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – Time to Sell?

Shares of Toromont Industries Ltd. (OTCMKTS:TMTNF) gapped down before the market opened on Tuesday . The stock had previously closed at $160.59, but opened at $148.15. Toromont Industries shares last traded at $148.15, with a volume of 315 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on TMTNF. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. BMO Capital Markets reissued an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

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 stock has a fifty day moving average of $161.69 and a 200-day moving average of $149.85. The stock has a market cap of $12.08 billion and a PE ratio of 67.65.

Toromont Industries (OTCMKTS:TMTNF) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.The firm had revenue of $895.28 million during the quarter, compared to the consensus estimate of $842.94 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.