Scotiabank Raises Finning International (TSE:FTT) Price Target to C$118.00

Finning International (TSE:FTT) had its price objective raised by research analysts at Scotiabank from C$114.00 to C$118.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 21.70% from the company’s previous close.

A number of other brokerages also recently commented on FTT. Raymond James Financial upped their price objective on Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Royal Bank Of Canada boosted their target price on shares of Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. BMO Capital Markets upped their target price on shares of Finning International from C$96.00 to C$115.00 in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce raised their price target on shares of Finning International from C$100.00 to C$120.00 in a research note on Thursday, May 14th. Finally, TD lifted their price target on Finning International from C$115.00 to C$120.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$115.78.

Finning International Stock Down 1.1%

FTT traded down C$1.04 during trading on Tuesday, hitting C$96.96. The company had a trading volume of 461,170 shares, compared to its average volume of 442,809. Finning International has a 1-year low of C$54.00 and a 1-year high of C$109.08. The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59. The company has a market cap of C$12.66 billion, a PE ratio of 19.05, a P/E/G ratio of 0.56 and a beta of 0.88. The business has a 50-day moving average of C$99.91 and a 200-day moving average of C$90.87.

Finning International (TSE:FTT) last issued its earnings results on Tuesday, May 12th. The company reported C$1.02 EPS for the quarter. The company had revenue of C$2.50 billion during the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. As a group, analysts forecast that Finning International will post 4.244898 earnings per share for the current year.

Insider Buying and Selling at Finning International

In other news, insider Tim Arne Ferwerda sold 1,478 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total value of C$156,845.36. Following the sale, the insider owned 16,016 shares of the company’s stock, valued at approximately C$1,699,617.92. The trade was a 8.45% decrease in their position. Also, insider Gary Samuel Megarrell sold 300 shares of Finning International stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total value of C$30,900.00. Following the transaction, the insider directly owned 2,511 shares in the company, valued at approximately C$258,633. The trade was a 10.67% decrease in their ownership of the stock. Over the last quarter, insiders have sold 7,813 shares of company stock worth $827,102. 0.10% of the stock is owned by insiders.

About Finning International

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.