Finning International (TSE:FTT) Raised to “Buy” at TD Securities

TD Securities upgraded shares of Finning International (TSE:FTT) from a hold rating to a buy rating in a research note issued to investors on Friday morning, BayStreet.CA reports. The brokerage currently has C$45.00 target price on the stock, up from their previous target price of C$43.00.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada increased their price objective on Finning International from C$49.00 to C$50.00 in a research report on Thursday. Scotiabank increased their price objective on Finning International from C$53.00 to C$54.00 and gave the company an outperform rating in a research report on Wednesday, May 8th. CIBC increased their price objective on Finning International from C$45.00 to C$49.00 and gave the company an outperform rating in a research report on Wednesday, May 8th. National Bankshares increased their price objective on Finning International from C$46.00 to C$47.00 and gave the company an outperform rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets increased their price objective on Finning International from C$48.00 to C$50.00 in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Finning International currently has an average rating of Buy and a consensus price target of C$49.75.

Finning International Stock Performance

Finning International stock traded up C$1.37 during trading hours on Friday, reaching C$38.71. 420,169 shares of the company were exchanged, compared to its average volume of 369,600. The firm has a market cap of C$5.40 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.56 and a beta of 1.62. The company has a current ratio of 1.55, a quick ratio of 0.59 and a debt-to-equity ratio of 110.73. The stock has a 50-day moving average of C$39.56 and a 200 day moving average of C$39.62. Finning International has a 12 month low of C$33.77 and a 12 month high of C$44.86.

Finning International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.10 annualized dividend and a yield of 2.84%. Finning International’s dividend payout ratio is currently 31.34%.

Insiders Place Their Bets

In other Finning International news, Senior Officer Sebastian Tomas Guridi sold 700 shares of the stock in a transaction on Monday, May 27th. The stock was sold at an average price of C$44.01, for a total transaction of C$30,803.50. In other news, Director Harold N. Kvisle sold 3,100 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of C$43.36, for a total transaction of C$134,416.00. Also, Senior Officer Sebastian Tomas Guridi sold 700 shares of the stock in a transaction on Monday, May 27th. The stock was sold at an average price of C$44.01, for a total value of C$30,803.50. Over the last three months, insiders purchased 25,877 shares of company stock worth $1,072,195 and sold 4,900 shares worth $212,426. Corporate insiders own 0.10% of the company’s stock.

Finning International Company Profile

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.