Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – Here’s Why

Toromont Industries Ltd. (OTCMKTS:TMTNF) gapped down before the market opened on Monday . The stock had previously closed at $151.73, but opened at $136.8901. Toromont Industries shares last traded at $136.8901, with a volume of 213 shares.

Analyst Ratings Changes

TMTNF has been the subject of several research reports. Raymond James Financial upgraded shares of Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The stock has a market cap of $12.51 billion and a P/E ratio of 46.75. 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 50 day simple moving average of $160.06 and a 200 day simple moving average of $150.97.

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

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.