Insider Selling: Foraco International (TSE:FAR) Director Sells C$6,040,000.00 in Stock

Foraco International SA (TSE:FAR) Director Jean-Pierre Maurice Charmensat sold 2,000,000 shares of Foraco International stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$3.02, for a total value of C$6,040,000.00. Following the transaction, the director owned 17,583,966 shares of the company’s stock, valued at C$53,103,577.32. This represents a 10.21% decrease in their ownership of the stock.

Foraco International Trading Down 5.2%

Shares of Foraco International stock opened at C$2.71 on Friday. The company has a debt-to-equity ratio of 107.63, a current ratio of 1.24 and a quick ratio of 0.88. The business has a fifty day simple moving average of C$2.98 and a two-hundred day simple moving average of C$2.82. Foraco International SA has a 1 year low of C$1.57 and a 1 year high of C$3.54. The company has a market capitalization of C$265.45 million, a price-to-earnings ratio of 18.42 and a beta of 1.20.

Foraco International (TSE:FAR) last released its quarterly earnings data on Thursday, April 30th. The company reported C$0.01 EPS for the quarter. The firm had revenue of C$92.11 million for the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. Research analysts forecast that Foraco International SA will post 0.5984655 EPS for the current year.

Analyst Upgrades and Downgrades

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

Foraco International Company Profile

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.