Finning International (TSE:FTT) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Finning International Inc. (TSE:FTT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$90.60 and traded as high as C$97.80. Finning International shares last traded at C$97.35, with a volume of 118,501 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD boosted their price target on shares of Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Royal Bank Of Canada lifted their price objective on shares of Finning International from C$104.00 to C$130.00 in a research report on Friday, May 15th. Canadian Imperial Bank of Commerce boosted their target price on shares of Finning International from C$100.00 to C$120.00 in a research note on Thursday, May 14th. National Bank Financial set a C$115.00 target price on Finning International and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, BMO Capital Markets raised their price target on Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$114.78.

Finning International Price Performance

The stock has a market capitalization of C$12.71 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 0.56 and a beta of 0.88. The company has a quick ratio of 0.59, a current ratio of 1.61 and a debt-to-equity ratio of 88.08. The stock has a fifty day moving average of C$99.93 and a 200-day moving average of C$90.60.

Finning International (TSE:FTT) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 earnings per share for the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. The company had revenue of C$2.50 billion for the quarter. On average, equities research analysts predict that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

Insider Buying and Selling at Finning International

In related news, insider Tim Arne Ferwerda sold 1,478 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total value of C$156,845.36. Following the completion of the sale, the insider directly owned 16,016 shares of the company’s stock, valued at C$1,699,617.92. The trade was a 8.45% decrease in their ownership of the stock. Also, insider Gary Samuel Megarrell sold 300 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the completion of the transaction, the insider owned 2,511 shares of the company’s stock, valued at C$258,633. This represents a 10.67% decrease in their position. Insiders have sold a total of 7,813 shares of company stock worth $827,102 over the last quarter. 0.10% of the stock is owned by company insiders.

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.