Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – Should You Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $148.8840, but opened at $140.05. Toromont Industries shares last traded at $140.05, with a volume of 121 shares traded.

Analyst Ratings Changes

TMTNF has been the subject of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Raymond James Financial raised shares of Toromont Industries to a “market perform” rating in a research note on Thursday, June 18th. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Performance

The firm has a 50-day simple moving average of $157.12 and a two-hundred day simple moving average of $154.09. The company has a current ratio of 2.73, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $11.19 billion and a price-to-earnings ratio of 41.82.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.85 by $0.24. Toromont Industries had a return on equity of 15.53% and a net margin of 9.25%.The business had revenue of $797.03 million during the quarter, compared to analysts’ expectations of $1.04 billion.

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.