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

Finning International Inc. (TSE:FTT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$92.19 and last traded at C$91.64, with a volume of 21166 shares. The stock had previously closed at C$91.75.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FTT shares. Canadian Imperial Bank of Commerce upped their price target on Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. Canaccord Genuity Group upped their target price on Finning International from C$90.00 to C$100.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Royal Bank Of Canada lifted their price target on shares of Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. BMO Capital Markets raised their price objective on shares of Finning International from C$76.00 to C$85.00 in a research note on Thursday, November 13th. Finally, TD Securities lifted their price objective on shares of Finning International from C$100.00 to C$104.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$94.63.

Finning International Stock Performance

The company has a 50-day simple moving average of C$82.68 and a two-hundred day simple moving average of C$72.43. The firm has a market cap of C$12.10 billion, a PE ratio of 18.73, a PEG ratio of 0.56 and a beta of 0.80. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14.

Finning International (TSE:FTT) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$1.02 EPS for the quarter. The business 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 research analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current year.

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.