Canaccord Genuity Group Issues Positive Forecast for Finning International (TSE:FTT) Stock Price

Finning International (TSE:FTT) had its price objective lifted by Canaccord Genuity Group from C$55.00 to C$60.00 in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on FTT. TD Securities upped their price target on shares of Finning International from C$50.00 to C$57.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets upped their price target on shares of Finning International from C$48.00 to C$52.00 in a research report on Thursday. National Bankshares upped their price objective on shares of Finning International from C$48.00 to C$53.00 and gave the company an “outperform” rating in a report on Thursday. CIBC dropped their price objective on shares of Finning International from C$50.00 to C$49.00 in a report on Monday, February 3rd. Finally, Raymond James upped their price objective on shares of Finning International from C$50.00 to C$56.50 and gave the company an “outperform” rating in a report on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$54.94.

Finning International Stock Performance

Shares of FTT opened at C$49.72 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14. The stock has a market capitalization of C$6.83 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The firm’s fifty day simple moving average is C$41.00 and its two-hundred day simple moving average is C$39.95. Finning International has a 12 month low of C$34.59 and a 12 month high of C$52.19.

Insider Buying and Selling

In other Finning International news, Senior Officer Kieran Colquhoun Holm sold 1,413 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of C$50.98, for a total value of C$72,034.46. Also, Senior Officer Kevin Parkes sold 600 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of C$51.42, for a total transaction of C$30,852.00. Insiders have sold 7,159 shares of company stock worth $363,310 in the last quarter. Insiders own 0.10% of the company’s stock.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.