Finning International (TSE:FTT) Price Target Raised to C$118.00

Finning International (TSE:FTT) had its price target raised by analysts at National Bank Financial from C$115.00 to C$118.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 23.53% from the stock’s current price.

Several other brokerages have also issued reports on FTT. Canadian Imperial Bank of Commerce increased their price target on shares of Finning International from C$100.00 to C$120.00 in a research note on Thursday, May 14th. BMO Capital Markets boosted their price objective on shares of Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. Scotiabank upped their price objective on shares of Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 7th. TD raised their target price on shares of Finning International from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Raymond James Financial lifted their target price on shares of Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$116.89.

Finning International Stock Up 0.1%

FTT stock traded up C$0.05 during midday trading on Friday, hitting C$95.52. The stock had a trading volume of 153,499 shares, compared to its average volume of 449,101. The business has a 50-day moving average of C$100.34 and a two-hundred day moving average of C$94.82. The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59. The firm has a market cap of C$12.47 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 0.56 and a beta of 0.86. Finning International has a 52-week low of C$55.82 and a 52-week high of C$109.58.

Finning International (TSE:FTT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported C$1.22 EPS 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. As a group, equities research analysts forecast that Finning International will post 4.244898 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary Samuel Megarrell sold 300 shares of Finning International stock in a transaction dated 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 transaction, the insider owned 2,511 shares of the company’s stock, valued at C$258,633. The trade was a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the completion of the transaction, the insider owned 16,016 shares in the company, valued at approximately C$1,699,617.92. The trade was a 8.45% decrease in their position. Over the last three months, insiders sold 7,813 shares of company stock worth $827,102. 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.