Finning International (TSE:FTT) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Finning International Inc. (TSE:FTT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$92.49 and traded as high as C$107.68. Finning International shares last traded at C$104.61, with a volume of 359,429 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTT. Raymond James Financial raised their price target on shares of Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce increased their target price on shares of Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Royal Bank Of Canada raised their target price on shares of Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. TD upped their price target on Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, National Bank Financial set a C$115.00 price target on Finning International and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$115.78.

Finning International Trading Up 2.5%

The company has a 50 day simple moving average of C$100.74 and a two-hundred day simple moving average of C$92.60. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61. The firm has a market cap of C$14.01 billion, a PE ratio of 21.07, a P/E/G ratio of 0.56 and a beta of 0.88.

Finning International (TSE:FTT) last released its earnings results on Tuesday, May 12th. The company reported C$1.02 EPS 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. Analysts expect that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

Insider Buying and Selling at Finning International

In other news, insider Gary Samuel Megarrell sold 300 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the sale, the insider directly owned 2,511 shares of the company’s stock, valued at C$258,633. This represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the completion of the sale, the insider owned 16,016 shares in the company, valued at C$1,699,617.92. The trade was a 8.45% decrease in their position. Insiders sold a total of 7,813 shares of company stock worth $827,102 over 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.