Finning International (TSE:FTT) Given New C$114.00 Price Target at Scotiabank

Finning International (TSE:FTT) had its price objective cut by analysts at Scotiabank from C$118.00 to C$114.00 in a research note issued on Wednesday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank‘s price objective would indicate a potential upside of 24.14% from the stock’s current price.

Several other research firms have also recently weighed in on FTT. Stifel Nicolaus cut their price objective on shares of Finning International from C$126.00 to C$123.00 and set a “buy” rating for the company in a research report on Wednesday. National Bank Financial raised their target price on shares of Finning International from C$115.00 to C$118.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Canadian Imperial Bank of Commerce dropped their target price on shares of Finning International from C$122.00 to C$120.00 in a research report on Thursday, October 29th. Royal Bank Of Canada set a C$129.00 price target on shares of Finning International and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Finally, BMO Capital Markets upped their price target on shares of Finning International from C$118.00 to C$122.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$116.10.

Finning International Price Performance

Shares of TSE:FTT traded up C$2.75 during trading on Wednesday, reaching C$91.83. 334,157 shares of the company traded hands, compared to its average volume of 455,295. The company’s 50 day moving average is C$99.13 and its two-hundred day moving average is C$95.93. The firm has a market capitalization of C$11.95 billion, a PE ratio of 21.92, a PEG ratio of 0.56 and a beta of 0.23. The company has a quick ratio of 0.59, a current ratio of 1.47 and a debt-to-equity ratio of 86.86. Finning International has a 52 week low of C$70.89 and a 52 week high of C$115.60.

Finning International (TSE:FTT) last released its earnings results on Tuesday, November 10th. The company reported C$1.20 earnings per share (EPS) for the quarter. Finning International had a return on equity of 19.22% and a net margin of 4.93%. The company had revenue of C$3.04 billion for the quarter. As a group, sell-side analysts predict that Finning International will post 4.24 earnings per share for the current year.

About Finning International

Finning is the world’s largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers’ toughest challenges.