Finning International (TSE:FTT) Stock Price Expected to Rise, CIBC Analyst Says

Finning International (TSE:FTT) had its price target hoisted by research analysts at CIBC from C$77.00 to C$84.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 13.50% from the stock’s previous close.

FTT has been the subject of a number of other research reports. Scotiabank increased their target price on shares of Finning International from C$71.00 to C$85.00 in a research report on Thursday. Royal Bank Of Canada upped their target price on Finning International from C$61.00 to C$67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. TD Securities lifted their price target on Finning International from C$81.00 to C$88.00 in a research report on Thursday. Raymond James Financial upped their price objective on Finning International from C$68.00 to C$85.00 in a report on Thursday. Finally, BMO Capital Markets lifted their target price on Finning International from C$57.00 to C$66.00 in a report on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$73.11.

Finning International Stock Performance

Shares of Finning International stock traded down C$3.84 during trading hours on Thursday, reaching C$74.01. The company’s stock had a trading volume of 534,303 shares, compared to its average volume of 492,857. Finning International has a one year low of C$34.59 and a one year high of C$79.68. The company’s 50 day simple moving average is C$66.74 and its 200 day simple moving average is C$58.74. The company has a debt-to-equity ratio of 98.14, a quick ratio of 0.59 and a current ratio of 1.65. The stock has a market cap of C$9.81 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.56 and a beta of 0.91.

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.