Foraco International (TSE:FAR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Foraco International SA (TSE:FAR)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.60 and traded as high as C$3.20. Foraco International shares last traded at C$3.13, with a volume of 115,851 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Desjardins lifted their target price on Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$4.50.

Foraco International Stock Performance

The company has a market cap of C$306.86 million, a PE ratio of 20.06 and a beta of 1.10. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 99.57. The company has a 50-day moving average of C$2.90 and a 200-day moving average of C$2.60.

Foraco International (TSE:FAR) last announced its earnings results on Thursday, April 30th. The company reported C$0.01 earnings per share (EPS) for the quarter. The company had revenue of C$92.11 million for the quarter. Foraco International had a return on equity of 16.77% and a net margin of 6.02%. As a group, analysts anticipate that Foraco International SA will post 0.5984655 earnings per share for the current year.

Insider Buying and Selling

In other Foraco International news, Director William Warren Holmes purchased 17,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average cost of C$2.84 per share, for a total transaction of C$48,280.00. Following the completion of the acquisition, the director owned 450,001 shares of the company’s stock, valued at C$1,278,002.84. The trade was a 3.93% increase in their position. Company insiders own 35.74% of the company’s stock.

About Foraco International

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.