CIBC Issues Positive Forecast for Finning International (TSE:FTT) Stock Price

Finning International (TSE:FTT) had its target price upped by equities researchers at CIBC from C$84.00 to C$102.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 14.81% from the stock’s previous close.

Several other equities analysts also recently issued reports on FTT. BMO Capital Markets raised their price target on shares of Finning International from C$76.00 to C$85.00 in a research note on Thursday, November 13th. National Bankshares lifted their target price on Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Monday, December 15th. TD Securities upped their price target on Finning International from C$88.00 to C$100.00 in a research report on Wednesday. Raymond James Financial raised their price objective on Finning International from C$68.00 to C$85.00 in a research report on Thursday, November 13th. Finally, Scotiabank upped their target price on Finning International from C$71.00 to C$85.00 in a report on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$82.00.

Finning International Price Performance

Shares of TSE:FTT traded up C$2.51 during trading on Friday, hitting C$88.84. 163,126 shares of the company were exchanged, compared to its average volume of 416,032. Finning International has a 1-year low of C$34.59 and a 1-year high of C$89.85. The company has a market capitalization of C$11.67 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.56 and a beta of 0.80. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14. The business’s 50 day moving average is C$78.92 and its 200-day moving average is C$69.65.

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.