Finning International Inc. (TSE:FTT) Receives C$115.78 Consensus Target Price from Brokerages

Shares of Finning International Inc. (TSE:FTT) have been given an average recommendation of “Buy” by the eight research firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is C$115.78.

A number of research analysts have commented on the stock. Scotiabank raised their target price on shares of Finning International from C$114.00 to C$118.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 7th. Canadian Imperial Bank of Commerce upped their price target on shares of Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. BMO Capital Markets increased their price objective on shares of Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. National Bank Financial set a C$115.00 price objective on shares of Finning International and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, Raymond James Financial boosted their price objective on shares of Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th.

Finning International Price Performance

FTT opened at C$106.46 on Tuesday. The company has a market capitalization of C$13.90 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 0.56 and a beta of 0.88. The company has a current ratio of 1.61, a quick ratio of 0.59 and a debt-to-equity ratio of 88.08. Finning International has a 12-month low of C$54.00 and a 12-month high of C$109.58. The business’s fifty day simple moving average is C$101.15 and its 200-day simple moving average is C$93.60.

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 return on equity of 24.23% and a net margin of 6.34%.The firm had revenue of C$2.50 billion during the quarter. On average, equities research analysts anticipate that Finning International will post 4.244898 earnings per share for the current fiscal year.

Insider Buying and Selling at Finning International

In other news, insider Gary Samuel Megarrell sold 300 shares of Finning International stock in a transaction on Thursday, May 14th. The stock was 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 in the company, valued at approximately C$258,633. This trade represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total value of C$156,845.36. Following the completion of the transaction, the insider directly 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 ownership of the stock. Insiders have sold a total of 7,813 shares of company stock worth $827,102 in the last ninety days. Insiders own 0.10% of the company’s stock.

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.