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

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price gapped down prior to trading on Friday . The stock had previously closed at $122.16, but opened at $116.24. Toromont Industries shares last traded at $116.24, with a volume of 118 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TMTNF. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a research note on Monday, November 3rd. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a research report on Friday, October 17th. National Bankshares reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Monday, November 3rd. CIBC reissued a “neutral” rating on shares of Toromont Industries in a report on Monday, October 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy”.

Toromont Industries Price Performance

The business has a 50-day moving average of $115.65 and a 200 day moving average of $105.02.

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.