Finning International (TSE:FTT) Given New C$129.00 Price Target at Royal Bank Of Canada

Finning International (TSE:FTT) had its target price reduced by research analysts at Royal Bank Of Canada from C$130.00 to C$129.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 36.90% from the stock’s current price.

Several other equities research analysts have also recently commented on FTT. Scotiabank raised their target price on shares of Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 7th. TD raised their price objective on shares of Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Raymond James Financial upped their target price on Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. BMO Capital Markets lifted their price target on Finning International from C$118.00 to C$122.00 and gave the company an “outperform” rating in a research report on Friday. Finally, National Bank Financial increased their price objective on Finning International from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a report on Friday. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Finning International presently has an average rating of “Buy” and an average target price of C$116.78.

Finning International Trading Down 1.8%

Shares of TSE FTT traded down C$1.72 during trading hours on Monday, hitting C$94.23. The company’s stock had a trading volume of 159,321 shares, compared to its average volume of 449,253. Finning International has a 12 month low of C$55.82 and a 12 month high of C$109.58. The stock has a market cap of C$12.26 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 0.56 and a beta of 0.86. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61. The business has a 50-day simple moving average of C$100.18 and a 200-day simple moving average of C$94.90.

Finning International (TSE:FTT) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.22 earnings per share for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.The business had revenue of C$3.13 billion during the quarter. On average, analysts anticipate that Finning International will post 4.244898 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tim Arne Ferwerda sold 1,478 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the sale, the insider owned 16,016 shares in the company, valued at C$1,699,617.92. This represents a 8.45% decrease in their ownership of the stock. Also, insider Gary Samuel Megarrell sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the sale, the insider directly owned 2,511 shares of the company’s stock, valued at C$258,633. This trade represents a 10.67% decrease in their position. Insiders sold 7,813 shares of company stock valued at $827,102 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

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.