Scotiabank Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price target boosted by equities researchers at Scotiabank from C$114.00 to C$118.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 21.70% from the stock’s current price.

Several other research firms have also recently commented on FTT. Raymond James Financial boosted 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. National Bank Financial set a C$115.00 price objective on Finning International and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. BMO Capital Markets boosted their target price on Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. TD raised their price target on Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$115.78.

Finning International Stock Down 1.1%

Shares of TSE FTT traded down C$1.04 during mid-day trading on Tuesday, reaching C$96.96. The company had a trading volume of 461,170 shares, compared to its average volume of 442,809. 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 company has a market capitalization of C$12.66 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 0.56 and a beta of 0.88. The stock has a fifty day moving average of C$99.91 and a two-hundred day moving average of C$90.87. Finning International has a 12-month low of C$54.00 and a 12-month high of C$109.08.

Finning International (TSE:FTT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 EPS for the quarter. The firm had revenue of C$2.50 billion for the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. As a group, equities research analysts expect that Finning International will post 4.244898 EPS for the current year.

Insider Buying and Selling at Finning International

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