Finning International (TSE:FTT) Hits New 52-Week High – Here’s Why

Finning International Inc. (TSE:FTT) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$98.98 and last traded at C$98.84, with a volume of 24782 shares. The stock had previously closed at C$95.82.

Analyst Ratings Changes

Several equities research analysts recently commented on FTT shares. Canadian Imperial Bank of Commerce raised their target price on Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. Royal Bank Of Canada raised their target price on Finning International from C$89.00 to C$104.00 in a research note on Thursday, February 12th. TD raised their target price on Finning International from C$104.00 to C$106.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. TD Securities lifted their price target on shares of Finning International from C$100.00 to C$104.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Canaccord Genuity Group lifted their price target on shares of Finning International from C$90.00 to C$100.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$95.89.

Finning International Trading Up 3.4%

The stock has a market capitalization of C$13.04 billion, a P/E ratio of 20.17, a P/E/G ratio of 0.56 and a beta of 0.69. The firm’s 50 day simple moving average is C$89.62 and its two-hundred day simple moving average is C$81.01. The company has a quick ratio of 0.59, a current ratio of 1.67 and a debt-to-equity ratio of 82.71.

Finning International (TSE:FTT) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$1.02 EPS for the quarter. The firm had revenue of C$2.77 billion during the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%. As a group, analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

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.