Finning International (TSE:FTT) Reaches New 52-Week High – Here’s What Happened

Finning International Inc. (TSE:FTT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$98.93 and last traded at C$97.96, with a volume of 830250 shares changing hands. The stock had previously closed at C$91.96.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FTT shares. Raymond James Financial raised their target price on shares of Finning International from C$68.00 to C$85.00 in a research report on Thursday, November 13th. Canaccord Genuity Group increased their price target on Finning International from C$90.00 to C$100.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Royal Bank Of Canada boosted their price objective on Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. 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 report on Tuesday, February 17th. Finally, National Bank Financial increased their target price on Finning International from C$66.00 to C$72.00 and gave the company a “sector perform” rating in a research report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$94.63.

Finning International Stock Down 0.2%

The firm has a market capitalization of C$12.19 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 0.56 and a beta of 0.80. The company has a debt-to-equity ratio of 82.71, a current ratio of 1.67 and a quick ratio of 0.59. The stock has a fifty day moving average of C$85.10 and a two-hundred day moving average of C$73.83.

Finning International (TSE:FTT) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$1.02 EPS for the quarter. The firm had revenue of C$2.77 billion for the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%. Sell-side analysts anticipate that Finning International Inc. will post 4.244898 earnings per share for the current year.

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.