Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – Time to Sell?

Shares of Toromont Industries Ltd. (OTCMKTS:TMTNF) 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 traded.

Analyst Upgrades and Downgrades

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

Toromont Industries Price Performance

The stock’s fifty day moving average is $139.12 and its 200-day moving average is $122.93. The stock has a market capitalization of $11.32 billion and a PE ratio of 101.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.86.

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