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

Finning International Inc. (TSE:FTT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$92.19 and last traded at C$91.64, with a volume of 21166 shares changing hands. The stock had previously closed at C$91.75.

Wall Street Analysts Forecast Growth

FTT has been the subject of several research analyst reports. TD Securities boosted their price target on shares of Finning International from C$100.00 to C$104.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. BMO Capital Markets boosted their target price on Finning International from C$76.00 to C$85.00 in a research note on Thursday, November 13th. Raymond James Financial increased their price target on Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. Canaccord Genuity Group lifted their price objective on Finning International from C$90.00 to C$100.00 and gave the company a “buy” rating in a report on Monday, February 9th. Finally, Scotiabank increased their target price on Finning International from C$92.00 to C$105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$94.63.

Finning International Trading Down 1.9%

The company has a market capitalization of C$12.01 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 0.56 and a beta of 0.80. The business has a fifty day moving average price of C$83.51 and a 200 day moving average price of C$72.72. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14.

Finning International (TSE:FTT) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$1.02 earnings per share for the quarter. The firm had revenue of C$2.77 billion during the quarter. Finning International had a return on equity of 19.69% and a net margin of 4.54%. On average, analysts expect that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

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.