Finning International (TSE:FTT) Reaches New 1-Year High – Here’s Why

Finning International Inc. (TSE:FTT) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$79.05 and last traded at C$78.96, with a volume of 274498 shares traded. The stock had previously closed at C$76.26.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Scotiabank boosted their target price on shares of Finning International from C$71.00 to C$85.00 in a research note on Thursday, November 13th. TD Securities raised their target price on Finning International from C$81.00 to C$88.00 in a research report on Thursday, November 13th. CIBC upped their price target on Finning International from C$77.00 to C$84.00 in a report on Thursday, November 13th. BMO Capital Markets increased their price target on Finning International from C$76.00 to C$85.00 in a research report on Thursday, November 13th. Finally, Raymond James Financial boosted their price objective on Finning International from C$68.00 to C$85.00 in a research report on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Finning International presently has an average rating of “Moderate Buy” and an average target price of C$78.25.

Finning International Trading Up 3.5%

The company has a 50 day simple moving average of C$74.43 and a 200 day simple moving average of C$66.04. The company has a debt-to-equity ratio of 98.14, a quick ratio of 0.59 and a current ratio of 1.65. The company has a market capitalization of C$10.37 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.56 and a beta of 0.79.

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.