Finning International (TSE:FTT) Reaches New 1-Year High – What’s Next?

Finning International Inc. (TSE:FTT)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$109.36 and last traded at C$109.04, with a volume of 221690 shares traded. The stock had previously closed at C$104.61.

Analyst Ratings Changes

A number of research firms recently commented on FTT. Raymond James Financial increased their price target on Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Scotiabank upped their target price on shares of Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada increased their target price on shares of Finning International from C$104.00 to C$130.00 in a report on Friday, May 15th. Canadian Imperial Bank of Commerce raised their price target on shares of Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Finning International currently has a consensus rating of “Buy” and a consensus price target of C$115.78.

Finning International Trading Up 3.3%

The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59. The company has a market capitalization of C$14.10 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88. The firm has a fifty day moving average price of C$100.54 and a 200-day moving average price of C$92.49.

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

Insider Buying and Selling at Finning International

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

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.