Finning International (TSE:FTT) Sets New 12-Month High – Still a Buy?

Finning International Inc. (TSE:FTT)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$68.22 and last traded at C$68.08, with a volume of 388986 shares changing hands. The stock had previously closed at C$65.99.

Analyst Ratings Changes

A number of research firms recently commented on FTT. Scotiabank lowered their price target on Finning International from C$65.00 to C$64.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Raymond James Financial boosted their target price on Finning International from C$56.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on Finning International from C$61.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets upped their price target on shares of Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$59.44.

Finning International Stock Performance

The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59. The stock has a market capitalization of C$9.03 billion, a PE ratio of 14.61, a P/E/G ratio of 0.56 and a beta of 1.05. The firm has a fifty day moving average price of C$60.30 and a two-hundred day moving average price of C$53.60.

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.