Foraco International (TSE:FAR) Shares Up 8.5% – Still a Buy?

Foraco International SA (TSE:FAR) shares traded up 8.5% during trading on Friday . The company traded as high as C$3.33 and last traded at C$3.33. 356,595 shares changed hands during trading, an increase of 70% from the average session volume of 210,013 shares. The stock had previously closed at C$3.07.

Analyst Upgrades and Downgrades

Separately, Desjardins raised their target price on Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Foraco International currently has an average rating of “Buy” and an average price target of C$4.50.

Foraco International Price Performance

The company has a 50 day moving average of C$2.86 and a two-hundred day moving average of C$2.65. The firm has a market cap of C$318.62 million, a P/E ratio of 22.09 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 107.63.

Foraco International (TSE:FAR) last announced its earnings results on Thursday, April 30th. The company reported C$0.01 earnings per share for the quarter. Foraco International had a return on equity of 15.14% and a net margin of 5.43%.The business had revenue of C$92.11 million during the quarter. Sell-side analysts expect that Foraco International SA will post 0.5984655 EPS for the current year.

Insider Buying and Selling at Foraco International

In related news, Director William Warren Holmes purchased 17,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average price of C$2.84 per share, for a total transaction of C$48,280.00. Following the transaction, the director directly owned 450,001 shares of the company’s stock, valued at C$1,278,002.84. This trade represents a 3.93% increase in their position. 35.74% of the stock is owned by company insiders.

About Foraco International

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.