NFI Group (TSE:NFI) Shares Up 13% – Here’s Why

NFI Group Inc. (TSE:NFI)’s share price shot up 13% during trading on Thursday . The stock traded as high as C$18.37 and last traded at C$17.95. 163,288 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 272,091 shares. The stock had previously closed at C$15.89.

Wall Street Analysts Forecast Growth

NFI has been the subject of a number of research analyst reports. BMO Capital Markets cut their price target on shares of NFI Group from C$18.00 to C$17.00 in a report on Monday, December 8th. ATB Cormark Capital Markets boosted their target price on shares of NFI Group from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday. TD Securities raised shares of NFI Group to a “strong-buy” rating in a research note on Friday, January 30th. National Bank Financial reduced their target price on shares of NFI Group from C$28.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Finally, Scotiabank lifted their price target on shares of NFI Group from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$22.43.

NFI Group Stock Performance

The firm has a market cap of C$2.02 billion, a P/E ratio of -6.95, a PEG ratio of -0.07 and a beta of 0.22. The company has a 50 day moving average of C$17.00 and a 200 day moving average of C$15.86. The company has a debt-to-equity ratio of 220.13, a quick ratio of 0.55 and a current ratio of 1.47.

Insider Activity at NFI Group

In other NFI Group news, Director Colin Robertson bought 10,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was bought at an average cost of C$15.97 per share, with a total value of C$159,700.00. Following the completion of the transaction, the director directly owned 56,217 shares of the company’s stock, valued at approximately C$897,785.49. The trade was a 21.64% increase in their position. Also, insider Brian Keith Dewsnup purchased 4,100 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were acquired at an average price of C$16.14 per share, for a total transaction of C$66,174.00. Following the purchase, the insider owned 69,010 shares in the company, valued at C$1,113,821.40. The trade was a 6.32% increase in their ownership of the stock. Insiders acquired 15,640 shares of company stock valued at $250,305 over the last three months. Insiders own 0.62% of the company’s stock.

About NFI Group

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With over 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts¿.