Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – What’s Next?

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $164.63, but opened at $156.5229. Toromont Industries shares last traded at $156.5229, with a volume of 539 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a report on Thursday, April 30th. BMO Capital Markets reissued an “outperform” rating on shares of Toromont Industries in a report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a report on Thursday, April 30th. Finally, TD Securities reissued a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Toromont Industries has a consensus 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 firm has a market cap of $12.76 billion and a price-to-earnings ratio of 71.47. The business’s fifty day moving average is $154.85 and its two-hundred day moving average is $139.75.

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, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $895.28 million during the quarter, compared to analyst estimates of $842.94 million. Toromont Industries had a net margin of 9.63% and a return on equity of 16.35%.

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.