Finning International (TSE:FTT) Given New C$122.00 Price Target at BMO Capital Markets

Finning International (TSE:FTT) had its price objective hoisted by equities researchers at BMO Capital Markets from C$118.00 to C$122.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 27.72% from the stock’s current price.

A number of other brokerages have also recently weighed in on FTT. Royal Bank Of Canada increased their price target on shares of Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Scotiabank upped their target price on shares of Finning International from C$114.00 to C$118.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 7th. TD increased their target price on shares of Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. National Bank Financial raised their price target on Finning International from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Canadian Imperial Bank of Commerce boosted their price target on Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Finning International currently has an average rating of “Buy” and a consensus price target of C$116.89.

Finning International Stock Performance

Shares of FTT stock traded up C$0.05 during mid-day trading on Friday, hitting C$95.52. 153,499 shares of the stock were exchanged, compared to its average volume of 449,101. The stock’s fifty day simple moving average is C$100.34 and its two-hundred day simple moving average is C$94.82. The stock has a market capitalization of C$12.47 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 0.56 and a beta of 0.86. Finning International has a 12-month low of C$55.82 and a 12-month high of C$109.58. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61.

Finning International (TSE:FTT) last posted 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 24.23% and a net margin of 6.34%. On average, analysts forecast that Finning International will post 4.244898 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tim Arne Ferwerda sold 1,478 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the transaction, the insider directly owned 16,016 shares in the company, valued at C$1,699,617.92. The trade was a 8.45% decrease in their ownership of the stock. Also, insider Gary Samuel Megarrell sold 300 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the transaction, the insider owned 2,511 shares in the company, valued at approximately C$258,633. This trade represents a 10.67% decrease in their ownership of the stock. In the last 90 days, insiders have sold 7,813 shares of company stock valued at $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.