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

Key Points

• Shares gapped down on Friday, opening at $136.48 versus the prior close of $144.15 and last trading at $136.39 on very light volume (204 shares).
• Analyst sentiment is broadly positive with four Buy and two Hold ratings, giving a MarketBeat average rating of Moderate Buy, and recent reiterations from RBC, BMO, TD and Scotiabank.
• Quarterly results showed an EPS beat ($1.37 vs. $1.02 estimate) but revenue missed ($764.29M vs. $848.84M); the stock trades at a high P/E of 99.55 with a market cap of $11.11B and a conservative balance sheet (D/E 0.26, current ratio 2.93).

Shares of Toromont Industries Ltd. (OTCMKTS:TMTNF - Get Free Report) 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 Analysts Forecast Growth

TMTNF has been the topic of several research reports. Scotiabank reiterated a "sector perform" rating on shares of Toromont Industries in a report on Thursday, January 29th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Toromont Industries in a research note on Thursday, February 12th. BMO Capital Markets restated an "outperform" rating on shares of Toromont Industries in a research report on Thursday, February 12th. Finally, TD Securities reaffirmed a "buy" rating on shares of Toromont Industries in a research report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Toromont Industries Price Performance

The company has a fifty day simple moving average of $141.00 and a two-hundred day simple moving average of $124.24. The stock has a market capitalization of $11.11 billion and a price-to-earnings ratio of 99.55. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.35. The company had revenue of $764.29 million for the quarter, compared to analysts' expectations of $848.84 million. Toromont Industries had a return on equity of 16.03% and a net margin of 9.56%.

Toromont Industries Company Profile

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.

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