Finning International (TSE:FTT) Reaches New 52-Week High – Should You Buy?

Finning International Inc. (TSE:FTT)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$103.33 and last traded at C$102.76, with a volume of 157804 shares trading hands. The stock had previously closed at C$96.57.

Analyst Upgrades and Downgrades

FTT has been the subject of several recent analyst reports. TD lifted their price target on Finning International from C$104.00 to C$106.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. TD Securities lifted their price target on shares of Finning International from C$100.00 to C$104.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on shares of Finning International from C$89.00 to C$104.00 in a research note on Thursday, February 12th. Scotiabank lifted their price target on shares of Finning International from C$105.00 to C$109.00 and gave the company a “sector outperform” rating in a research note on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$96.33.

Finning International Trading Up 8.1%

The company has a 50 day moving average of C$91.54 and a 200 day moving average of C$83.65. The company has a debt-to-equity ratio of 82.71, a quick ratio of 0.59 and a current ratio of 1.67. The stock has a market capitalization of C$13.66 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 0.56 and a beta of 0.70.

Finning International (TSE:FTT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 EPS for the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%.The firm had revenue of C$2.50 billion during the quarter. On average, research analysts predict that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

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.