Firan Technology Group (TSE:FTG) Hits New 12-Month High – Here’s What Happened

Firan Technology Group Co. (TSE:FTG) shares reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as C$35.50 and last traded at C$35.30, with a volume of 89,260 shares. The stock had previously closed at C$33.68.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FTG shares. Raymond James Financial reduced their price target on shares of Firan Technology Group from C$38.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. ATB Cormark Capital Markets upped their price objective on shares of Firan Technology Group from C$30.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$35.00.

Firan Technology Group Trading Up 5.0%

The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 20.05. The stock has a market cap of C$889.87 million, a P/E ratio of 40.17 and a beta of 1.66. The stock’s fifty day moving average price is C$25.50 and its 200 day moving average price is C$21.57.

Firan Technology Group (TSE:FTG) last issued its earnings results on Wednesday, October 7th. The company reported C$0.41 earnings per share (EPS) for the quarter. The firm had revenue of C$64.10 million for the quarter. Firan Technology Group had a net margin of 10.22% and a return on equity of 21.62%. Equities research analysts expect that Firan Technology Group Co. will post 0.42 earnings per share for the current year.

Insider Activity

In other news, Director Brandon Kuecker sold 3,272 shares of Firan Technology Group stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of C$32.00, for a total value of C$104,704.00. Following the completion of the sale, the director directly owned 10,986 shares in the company, valued at C$351,552. The trade was a 22.95% decrease in their ownership of the stock. Also, Director Mike Andrade sold 5,000 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of C$34.00, for a total transaction of C$170,000.00. Following the transaction, the director owned 125,000 shares in the company, valued at approximately C$4,250,000. This trade represents a 3.85% decrease in their position. 32.64% of the stock is currently owned by company insiders.

About Firan Technology Group

FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units: FTG Circuits: A manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defence, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts, and a joint venture in Tianjin, China. FTG Aerospace: Designs, certifies, manufactures, and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defence equipment.