TD Raises Finning International (TSE:FTT) Price Target to C$120.00

Finning International (TSE:FTT) had its price target hoisted by TD from C$115.00 to C$120.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price target would indicate a potential upside of 26.36% from the stock’s current price.

Several other brokerages also recently weighed in on FTT. Scotiabank raised their price target on Finning International from C$105.00 to C$109.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 28th. National Bank Financial raised Finning International from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$89.00 to C$115.00 in a report on Thursday, May 14th. TD Securities raised their price target on Finning International from C$100.00 to C$104.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised their price target on Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Finally, BMO Capital Markets raised their price target on Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$114.78.

Finning International Stock Down 6.0%

FTT traded down C$6.09 on Wednesday, hitting C$94.97. The company had a trading volume of 348,622 shares, compared to its average volume of 431,449. The stock has a fifty day moving average price of C$97.14 and a 200-day moving average price of C$87.76. Finning International has a 12-month low of C$53.00 and a 12-month high of C$109.08. 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 stock has a market capitalization of C$12.40 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 0.56 and a beta of 0.88.

Finning International (TSE:FTT) last posted its earnings results on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.The company had revenue of C$2.50 billion for the quarter. Analysts predict that Finning International will post 4.244898 EPS for the current fiscal year.

Insider Transactions at Finning International

In related news, insider Gary Samuel Megarrell sold 300 shares of Finning International 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 completion of the sale, the insider owned 2,511 shares of the company’s stock, valued at C$258,633. The trade was a 10.67% decrease in their ownership of the stock. Also, insider Tim Arne Ferwerda sold 1,478 shares of Finning International 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 sale, the insider directly owned 16,016 shares of the company’s stock, valued at C$1,699,617.92. This trade represents a 8.45% decrease in their position. Insiders have sold 7,813 shares of company stock valued at $827,102 in the last ninety days. Corporate 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.