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

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $169.25, but opened at $161.41. Toromont Industries shares last traded at $161.41, with a volume of 130 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMTNF. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Thursday, June 18th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research report on Thursday, April 30th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Toromont Industries currently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The company has a market cap of $13.26 billion and a PE ratio of 74.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.86 and a current ratio of 2.93. The stock’s 50-day simple moving average is $160.20 and its 200 day simple moving average is $144.39.

Toromont Industries (OTCMKTS:TMTNF) last issued its earnings results on Tuesday, April 28th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $895.28 million for the quarter, compared to the consensus estimate 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.