Royal Bank of Canada Reaffirms “Outperform” Rating for Finning International (TSE:FTT)

Royal Bank of Canada reissued their outperform rating on shares of Finning International (TSE:FTT) in a research note released on Thursday, Stock Target Advisor reports. They currently have a C$43.00 target price on the stock.

Several other research firms have also recently issued reports on FTT. TD Securities boosted their target price on Finning International from C$41.00 to C$43.00 and gave the stock a buy rating in a research report on Thursday, August 5th. Scotiabank boosted their target price on Finning International from C$40.00 to C$41.50 in a research report on Thursday, August 5th. CIBC boosted their target price on Finning International from C$44.00 to C$45.00 and gave the stock an outperform rating in a research report on Thursday, August 5th. Raymond James reiterated an outperform rating and set a C$40.00 target price on shares of Finning International in a research report on Wednesday, September 8th. Finally, BMO Capital Markets boosted their price target on Finning International from C$35.00 to C$36.00 and gave the stock a market perform rating in a research note on Thursday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Finning International has a consensus rating of Buy and an average price target of C$42.06.

Shares of FTT stock opened at C$31.21 on Thursday. The stock has a market capitalization of C$5.04 billion and a PE ratio of 15.84. Finning International has a 52-week low of C$19.69 and a 52-week high of C$35.00. The stock’s 50-day moving average price is C$32.48 and its 200 day moving average price is C$32.27. The company has a quick ratio of 0.74, a current ratio of 1.76 and a debt-to-equity ratio of 75.84.

Finning International (TSE:FTT) last released its earnings results on Tuesday, August 3rd. The company reported C$0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.46 by C$0.10. The business had revenue of C$1.85 billion for the quarter, compared to analyst estimates of C$1.76 billion. Analysts expect that Finning International will post 2.2699999 earnings per share for the current fiscal year.

In other Finning International news, Senior Officer Sebastian Tomas Guridi sold 1,908 shares of the business’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of C$34.39, for a total value of C$65,610.21. Following the completion of the transaction, the insider now directly owns 4,799 shares in the company, valued at approximately C$165,022.73. Also, Senior Officer Scott Thomson purchased 7,500 shares of the business’s stock in a transaction on Thursday, August 5th. The stock was acquired at an average price of C$33.74 per share, with a total value of C$253,044.75. Following the completion of the acquisition, the insider now directly owns 224,599 shares in the company, valued at approximately C$7,577,813.04.

Finning International Company Profile

Finning International Inc sells, services, and rents heavy equipment, and power and energy systems in Canada, Chile, the United Kingdom, Argentina, and internationally. It offers telehandlers, compact and small wheel loaders, mini excavators; heavy construction equipment, such as articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, excavators, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, track loaders, and wheel tractor-scrapers; and skidders, forest machines, track feller bunchers, log stackers, multi docker material handlers, cable yarding systems, dozers, drills, electric rope shovels, hydraulic mining shovels, and underground mining load haul dump (LHD) loaders.

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Analyst Recommendations for Finning International (TSE:FTT)

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