Finning International (TSE:FTT) Sets New 52-Week High – Still a Buy?

Shares of Finning International Inc. (TSE:FTT) hit a new 52-week high during trading on Thursday . The company traded as high as C$91.14 and last traded at C$90.58, with a volume of 34013 shares trading hands. The stock had previously closed at C$89.18.

Wall Street Analysts Forecast Growth

FTT has been the subject of a number of research reports. National Bank Financial upped their price target on shares of Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a research report on Monday, December 15th. Scotiabank upped their target price on Finning International from C$92.00 to C$105.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada raised their target price on Finning International from C$89.00 to C$104.00 in a report on Thursday, February 12th. Raymond James Financial boosted their price target on Finning International from C$68.00 to C$85.00 in a research report on Thursday, November 13th. Finally, TD Securities increased their price objective on shares of Finning International from C$100.00 to C$104.00 and gave the company a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$94.63.

Finning International Price Performance

The business has a fifty day moving average of C$81.47 and a 200 day moving average of C$71.46. 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 cap of C$11.70 billion, a PE ratio of 18.10, a P/E/G ratio of 0.56 and a beta of 0.80.

Finning International (TSE:FTT) last announced its earnings results on Tuesday, February 10th. The company reported C$1.02 earnings per share (EPS) for the quarter. The company had revenue of C$2.77 billion for the quarter. Finning International had a return on equity of 19.69% and a net margin of 4.54%. Sell-side analysts anticipate that Finning International Inc. will post 4.244898 earnings per share for the current year.

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.