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

Toromont Industries Ltd. (OTCMKTS:TMTNF) shares gapped down prior to trading on Friday . The stock had previously closed at $145.20, but opened at $137.9009. Toromont Industries shares last traded at $138.95, with a volume of 6,240 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TMTNF. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research report on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research note on Thursday, February 12th. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Toromont Industries Stock Down 4.3%

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 business has a 50 day simple moving average of $139.12 and a 200-day simple moving average of $122.93. The firm has a market capitalization of $11.32 billion and a price-to-earnings ratio of 101.42.

Toromont Industries (OTCMKTS:TMTNF) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.35. Toromont Industries had a net margin of 9.56% and a return on equity of 16.03%. The firm had revenue of $764.29 million for the quarter, compared to analysts’ expectations of $848.84 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.