Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – Here’s What Happened

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price gapped down prior to trading 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

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

Toromont Industries Price Performance

The company’s 50-day moving average price is $161.69 and its 200-day moving average price is $149.85. 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 $12.08 billion and a price-to-earnings ratio of 67.65.

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

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.