TD Raises Finning International (TSE:FTT) Price Target to C$120.00

Finning International (TSE:FTT) had its price objective upped by equities research analysts at TD from C$115.00 to C$120.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price objective points to a potential upside of 26.36% from the stock’s current price.

Other research analysts also recently issued reports about the company. Raymond James Financial boosted their price target on Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Royal Bank Of Canada boosted their price target on Finning International from C$104.00 to C$130.00 in a report on Friday, May 15th. BMO Capital Markets boosted their price target on Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. National Bank Financial raised Finning International from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$89.00 to C$115.00 in a report on Thursday, May 14th. Finally, Scotiabank boosted their price objective on Finning International from C$105.00 to C$109.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$114.78.

Finning International Stock Performance

TSE:FTT traded down C$6.09 during trading hours on Wednesday, reaching C$94.97. The company had a trading volume of 348,622 shares, compared to its average volume of 431,449. Finning International has a 1-year low of C$53.00 and a 1-year high of C$109.08. The firm has a market cap of C$12.40 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88. The business’s 50 day moving average price is C$97.14 and its 200-day moving average price is C$87.76. The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59.

Finning International (TSE:FTT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.The company had revenue of C$2.50 billion during the quarter. Research analysts forecast that Finning International will post 4.244898 EPS for the current year.

Insider Buying and Selling

In other news, insider Gary Samuel Megarrell sold 300 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total value of C$30,900.00. Following the completion of the sale, the insider directly owned 2,511 shares in the company, valued at C$258,633. The trade was a 10.67% decrease in their ownership of the stock. Also, insider Tim Arne Ferwerda sold 1,478 shares of the business’s 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 value of C$156,845.36. Following the completion of the sale, the insider owned 16,016 shares of the company’s stock, valued at C$1,699,617.92. This trade represents a 8.45% decrease in their ownership of the stock. Insiders sold 7,813 shares of company stock valued at $827,102 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Finning International Company Profile

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.