Finning International (TSE:FTT) Shares Pass Above 200 Day Moving Average – Here’s Why

Finning International Inc. (TSE:FTT)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$77.07 and traded as high as C$88.76. Finning International shares last traded at C$88.10, with a volume of 319,375 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of 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. Scotiabank upped their price objective on shares of Finning International from C$92.00 to C$105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. National Bank Financial increased their price objective on shares of Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a research report on Monday, December 15th. TD Securities lifted their target price on shares of Finning International from C$100.00 to C$104.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Finning International from C$84.00 to C$102.00 in a report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$94.63.

Finning International Stock Down 1.3%

The firm has a 50 day moving average of C$88.58 and a 200 day moving average of C$77.33. The firm has a market cap of C$11.17 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.56 and a beta of 0.62. The company has a quick ratio of 0.59, a current ratio of 1.67 and a debt-to-equity ratio of 82.71.

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 business had revenue of C$2.77 billion during the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%. As a group, sell-side analysts predict 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.