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

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price 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.

Analysts Set New Price Targets

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

Toromont Industries Stock Down 6.6%

The company has a market cap of $11.19 billion and a price-to-earnings ratio of 41.82. The stock has a 50-day simple moving average of $157.12 and a 200-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.

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

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.