Canadian Imperial Bank of Commerce Has Lowered Expectations for Finning International (TSE:FTT) Stock Price

Finning International (TSE:FTT) had its price objective cut by analysts at Canadian Imperial Bank of Commerce from C$122.00 to C$120.00 in a note issued to investors on Thursday, BayStreet reports. Canadian Imperial Bank of Commerce‘s target price indicates a potential upside of 22.50% from the company’s current price.

FTT has been the subject of several other reports. Stifel Nicolaus set a C$127.00 price target on shares of Finning International and gave the company a “buy” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada lowered their price objective on Finning International from C$130.00 to C$129.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Scotiabank boosted their price target on Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 7th. BMO Capital Markets upped their price target on shares of Finning International from C$118.00 to C$122.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, National Bank Financial lifted their price target on Finning International from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$117.80.

Finning International Trading Down 2.9%

Finning International stock traded down C$2.89 during trading hours on Thursday, hitting C$97.96. The company had a trading volume of 212,011 shares, compared to its average volume of 448,726. The firm has a market cap of C$12.75 billion, a P/E ratio of 23.38, a P/E/G ratio of 0.56 and a beta of 0.48. The company has a debt-to-equity ratio of 86.86, a quick ratio of 0.59 and a current ratio of 1.47. Finning International has a 1 year low of C$70.67 and a 1 year high of C$115.60. The company has a 50-day moving average price of C$98.75 and a two-hundred day moving average price of C$95.43.

Finning International (TSE:FTT) last issued its earnings results on Wednesday, August 5th. The company reported C$1.22 earnings per share for the quarter. The business had revenue of C$3.13 billion during the quarter. Finning International had a return on equity of 19.22% and a net margin of 4.93%. On average, sell-side analysts anticipate 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.