NFI Group (TSE:NFI) Reaches New 12-Month Low on Analyst Downgrade
NFI Group Inc (TSE:NFI) shares hit a new 52-week low on Tuesday after TD Securities lowered their price target on the stock from C$30.00 to C$16.50. TD Securities currently has a hold rating on the stock. NFI Group traded as low as C$10.20 and last traded at C$10.44, with a volume of 680697 shares traded. The stock had previously closed at C$11.49.
Other equities research analysts have also recently issued research reports about the stock. Scotiabank reduced their price target on shares of NFI Group from C$38.00 to C$24.00 in a research report on Tuesday. AltaCorp Capital cut their price objective on shares of NFI Group from C$35.00 to C$30.00 in a research report on Tuesday. BMO Capital Markets cut their price objective on shares of NFI Group from C$22.00 to C$17.00 in a research report on Wednesday. CIBC cut their price objective on shares of NFI Group from C$35.00 to C$26.00 in a research report on Tuesday. Finally, National Bank Financial cut their price objective on shares of NFI Group from C$39.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Friday, March 13th.
In other news, Director Brian Vincent Tobin acquired 5,000 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were acquired at an average price of C$9.87 per share, for a total transaction of C$49,335.00. Following the completion of the transaction, the director now directly owns 21,780 shares of the company’s stock, valued at approximately C$214,903.26.
About NFI Group (TSE:NFI)
NFI Group Inc, together with its subsidiaries, manufactures heavy-duty transit buses, medium-duty buses, low-floor cutaway buses, and motor coaches in the United States and Canada. It operates through two segments, Transit Bus and Motor Coach Manufacturing Operations; and Aftermarket Operations. The Transit Bus and Motor Coach Manufacturing Operations segment designs, manufactures, and sells heavy-duty transit buses, motor coaches, medium-duty buses and cutaways.
Further Reading: Hedge Funds – Risk or Reward?
Receive News & Ratings for NFI Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NFI Group and related companies with MarketBeat.com's FREE daily email newsletter.