Royal Bank Of Canada Cuts Finning International (TSE:FTT) Price Target to C$129.00

Finning International (TSE:FTT) had its price target reduced by Royal Bank Of Canada from C$130.00 to C$129.00 in a research report sent to investors on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce lifted their target price on shares of Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Raymond James Financial upped their price target on 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. Scotiabank raised their price target on Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 7th. TD lifted their price objective on Finning International from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, National Bank Financial boosted their price objective on Finning International from C$115.00 to C$118.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$116.78.

Finning International Trading Down 0.1%

Shares of FTT stock opened at C$93.86 on Monday. The company has a debt-to-equity ratio of 86.86, a current ratio of 1.47 and a quick ratio of 0.59. The firm has a market cap of C$12.21 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.56 and a beta of 0.86. The company has a 50-day moving average of C$99.44 and a two-hundred day moving average of C$95.09. Finning International has a 1-year low of C$55.82 and a 1-year high of C$109.58.

Finning International (TSE:FTT) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$1.22 earnings per share (EPS) for the quarter. Finning International had a net margin of 4.93% and a return on equity of 19.22%. The business had revenue of C$3.13 billion for the quarter. On average, analysts predict that Finning International will post 4.244898 EPS for the current year.

Insider Activity

In related news, insider Tim Arne Ferwerda sold 1,478 shares of Finning International 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 in the company, valued at approximately C$1,699,617.92. This trade represents a 8.45% decrease in their ownership of the stock. Insiders sold 7,119 shares of company stock valued at $755,606 in the last 90 days. 0.10% of the stock is currently owned by company insiders.

About Finning International

Finning is the world’s largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers’ toughest challenges.