Finning International (TSE:FTT) Sets New 12-Month High – Here’s What Happened

Finning International Inc. (TSE:FTT) shares reached a new 52-week high during trading on Thursday . The company traded as high as C$91.14 and last traded at C$90.58, with a volume of 34013 shares changing hands. The stock had previously closed at C$89.18.

Analyst Upgrades and Downgrades

FTT has been the topic of a number of recent research reports. Scotiabank upped their target price on shares of Finning International from C$92.00 to C$105.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. Raymond James Financial lifted their target price on shares of Finning International from C$68.00 to C$85.00 in a research note on Thursday, November 13th. BMO Capital Markets raised their price objective on Finning International from C$76.00 to C$85.00 in a report on Thursday, November 13th. Finally, Canaccord Genuity Group lifted their price objective on Finning International from C$90.00 to C$100.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$94.63.

Finning International Trading Up 0.2%

The firm has a market capitalization of C$11.70 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 0.56 and a beta of 0.80. The company has a debt-to-equity ratio of 98.14, a quick ratio of 0.59 and a current ratio of 1.65. The business has a fifty day moving average price of C$81.47 and a 200 day moving average price of C$71.46.

Finning International (TSE:FTT) last issued its earnings results on Tuesday, February 10th. The company reported C$1.02 earnings per share for the quarter. The firm had revenue of C$2.77 billion for the quarter. Finning International had a return on equity of 19.69% and a net margin of 4.54%. As a group, equities analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current 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.