Finning International (TSE:FTT) Price Target Raised to C$84.00

Finning International (TSE:FTT) had its price objective hoisted by analysts at CIBC from C$77.00 to C$84.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 13.50% from the stock’s previous close.

Several other research firms have also weighed in on FTT. Royal Bank Of Canada boosted their target price on Finning International from C$61.00 to C$67.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. BMO Capital Markets boosted their price objective on shares of Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Scotiabank upped their price objective on shares of Finning International from C$71.00 to C$85.00 in a report on Thursday. TD Securities upped their price target on shares of Finning International from C$81.00 to C$88.00 in a report on Thursday. Finally, Raymond James Financial lifted their price objective on Finning International from C$68.00 to C$85.00 in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$73.11.

Finning International Stock Down 4.9%

TSE FTT traded down C$3.84 during trading on Thursday, hitting C$74.01. 534,303 shares of the company traded hands, compared to its average volume of 492,857. Finning International has a 12 month low of C$34.59 and a 12 month high of C$79.68. The business has a fifty day simple moving average of C$66.74 and a 200 day simple moving average of C$58.74. The company has a market capitalization of C$9.81 billion, a P/E ratio of 15.88, a PEG ratio of 0.56 and a beta of 0.91. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14.

About Finning International

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.