TD Securities Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price objective increased by research analysts at TD Securities from C$81.00 to C$88.00 in a research note issued to investors on Thursday,BayStreet.CA reports. TD Securities’ price objective points to a potential upside of 18.90% from the company’s previous close.

Several other brokerages also recently issued reports on FTT. Royal Bank Of Canada increased their price target on Finning International from C$61.00 to C$67.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. CIBC lifted their price objective on shares of Finning International from C$68.00 to C$77.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Raymond James Financial upped their target price on shares of Finning International from C$56.00 to C$68.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. BMO Capital Markets lifted their price target on shares of Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Finally, Scotiabank raised their target price on Finning International from C$64.00 to C$71.00 in a research note on Friday, October 17th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Finning International has an average rating of “Moderate Buy” and a consensus target price of C$73.11.

Finning International Trading Down 4.9%

TSE:FTT traded down C$3.84 on Thursday, hitting C$74.01. The stock had a trading volume of 534,303 shares, compared to its average volume of 492,857. The company has a fifty day moving average price of C$66.74 and a two-hundred day moving average price of C$58.74. Finning International has a 1-year low of C$34.59 and a 1-year high of C$79.68. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14. The stock has a market cap of C$9.81 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.56 and a beta of 0.91.

Finning International Company Profile

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.