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

Toromont Industries Ltd. (OTCMKTS:TMTNF) 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 traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on TMTNF. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Thursday, April 30th. TD Securities reaffirmed a “buy” rating on shares of Toromont Industries in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.86. The firm has a fifty day simple moving average of $154.05 and a 200 day simple moving average of $139.15. The company has a market cap of $12.76 billion and a price-to-earnings ratio of 71.47.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.The company had revenue of $895.28 million for the quarter, compared to the consensus estimate of $842.94 million.

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.