Finning International (TSE:FTT) Sets New 52-Week High – Here’s Why

Finning International Inc. (TSE:FTT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$86.99 and last traded at C$84.28, with a volume of 42927 shares. The stock had previously closed at C$85.83.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Scotiabank upped their target price on shares of Finning International from C$71.00 to C$85.00 in a research report on Thursday, November 13th. TD Securities lifted their price objective on shares of Finning International from C$81.00 to C$88.00 in a research note on Thursday, November 13th. BMO Capital Markets increased their price objective on shares of Finning International from C$76.00 to C$85.00 in a report on Thursday, November 13th. Raymond James Financial upped their price objective on Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. Finally, National Bankshares upped their price target on shares of Finning International from C$66.00 to C$72.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$78.25.

Finning International Stock Up 0.7%

The stock has a market cap of C$11.35 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 0.56 and a beta of 0.79. The business has a fifty day moving average of C$76.43 and a 200 day moving average of C$68.08. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59.

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.