Finning International (TSE:FTT) Reaches New 12-Month High – Should You Buy?

Shares of Finning International Inc. (TSE:FTT) hit a new 52-week high on Wednesday . The company traded as high as C$103.33 and last traded at C$102.76, with a volume of 157804 shares. The stock had previously closed at C$96.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FTT shares. Canadian Imperial Bank of Commerce boosted their price target on Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. TD Securities lifted their price objective on shares of Finning International from C$100.00 to C$104.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Scotiabank lifted their price objective on shares of Finning International from C$105.00 to C$109.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, April 28th. Canaccord Genuity Group lifted their price objective on shares of Finning International from C$90.00 to C$100.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of Finning International from C$89.00 to C$104.00 in a research note on Thursday, February 12th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$96.33.

Finning International Price Performance

The stock has a market cap of C$13.66 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.56 and a beta of 0.70. The stock’s 50 day moving average price is C$91.54 and its two-hundred day moving average price is C$83.65. The company has a quick ratio of 0.59, a current ratio of 1.67 and a debt-to-equity ratio of 82.71.

Finning International (TSE:FTT) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 earnings per share for the quarter. Finning International had a net margin of 6.21% and a return on equity of 24.05%. The firm had revenue of C$2.50 billion for the quarter. Equities research analysts forecast that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

Finning International Company Profile

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.