Finning International (TSE:FTT) Sets New 1-Year High – Here’s What Happened

Shares of Finning International Inc. (TSE:FTT) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$82.06 and last traded at C$81.99, with a volume of 197463 shares traded. The stock had previously closed at C$79.02.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FTT. BMO Capital Markets upped their price target on Finning International from C$76.00 to C$85.00 in a research note on Thursday, November 13th. National Bankshares boosted their price objective on Finning International from C$66.00 to C$72.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Raymond James Financial upped their target price on Finning International from C$68.00 to C$85.00 in a research report on Thursday, November 13th. TD Securities increased their target price on Finning International from C$81.00 to C$88.00 in a report on Thursday, November 13th. Finally, Scotiabank boosted their price target on shares of Finning International from C$71.00 to C$85.00 in a research note on Thursday, November 13th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Finning International currently has a consensus rating of “Moderate Buy” and an average price target of C$78.25.

Finning International Stock Performance

The company has a 50-day moving average of C$75.39 and a 200-day moving average of C$67.06. The company has a market cap of C$11.26 billion, a PE ratio of 16.91, a PEG ratio of 0.56 and a beta of 0.79. 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 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.