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

Toromont Industries Ltd. (OTCMKTS:TMTNF)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $156.72, but opened at $148.84. Toromont Industries shares last traded at $148.8840, with a volume of 600 shares.

Analyst Ratings Changes

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

Toromont Industries Stock Down 5.0%

The company has a current ratio of 2.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $12.14 billion and a P/E ratio of 45.39. The business has a 50-day moving average price of $159.51 and a 200 day moving average price of $153.00.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.24. The company had revenue of $797.03 million for the quarter, compared to analysts’ expectations of $1.04 billion. Toromont Industries had a net margin of 9.25% and a return on equity of 16.00%.

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.