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

Toromont Industries Ltd. (OTCMKTS:TMTNF) gapped down before the market opened on Friday . The stock had previously closed at $144.15, but opened at $136.48. Toromont Industries shares last traded at $136.39, with a volume of 204 shares.

Wall Street Analyst Weigh In

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

Toromont Industries Trading Down 3.2%

The firm has a market cap of $11.11 billion and a price-to-earnings ratio of 99.55. The business has a fifty day moving average of $141.18 and a two-hundred day moving average of $124.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.86 and a current ratio of 2.93.

Toromont Industries (OTCMKTS:TMTNF) last posted its 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. The company had revenue of $764.29 million for the quarter, compared to analyst estimates of $848.84 million. Toromont Industries had a return on equity of 16.03% and a net margin of 9.56%.

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.