Finning International (TSE:FTT) Reaches New 1-Year High – What’s Next?

Finning International Inc. (TSE:FTT) shares hit a new 52-week high during trading on Friday . The company traded as high as C$109.36 and last traded at C$109.04, with a volume of 221690 shares traded. The stock had previously closed at C$104.61.

Analyst Upgrades and Downgrades

FTT has been the topic of several research reports. Canadian Imperial Bank of Commerce increased their price target on shares of Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Raymond James Financial boosted their target price on shares of Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. BMO Capital Markets upped their price target on shares of Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. National Bank Financial set a C$115.00 target price on Finning International and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Finally, Scotiabank lifted their price target on Finning International from C$114.00 to C$118.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Finning International presently has a consensus rating of “Buy” and a consensus price target of C$115.78.

Finning International Stock Up 2.5%

The stock has a market cap of C$14.01 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 0.56 and a beta of 0.88. The business’s 50 day moving average is C$100.74 and its 200-day moving average is C$92.60. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61.

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

Insider Buying and Selling at Finning International

In related news, insider Gary Samuel Megarrell sold 300 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the transaction, the insider directly owned 2,511 shares in the company, valued at approximately 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 the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total value of C$156,845.36. Following the completion of the sale, the insider 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 ownership of the stock. Over the last three months, insiders sold 7,813 shares of company stock valued at $827,102. 0.10% of the stock is owned by corporate insiders.

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.