Finning International (TSE:FTT) Given New C$118.00 Price Target at National Bank Financial

Finning International (TSE:FTT) had its price target hoisted by National Bank Financial from C$115.00 to C$118.00 in a research report released on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

FTT has been the topic of several other reports. Scotiabank raised their price target on shares of Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 7th. BMO Capital Markets upped their price objective on shares of Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. Royal Bank Of Canada increased their price objective on shares of Finning International from C$104.00 to C$130.00 in a report on Friday, May 15th. Raymond James Financial raised their target price on shares of 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. Finally, Canadian Imperial Bank of Commerce boosted their target price on Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$116.89.

Finning International Stock Up 0.5%

TSE FTT opened at C$95.95 on Friday. The business has a fifty day moving average price of C$100.18 and a 200 day moving average price of C$94.83. Finning International has a one year low of C$55.82 and a one year 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. The company has a market cap of C$12.53 billion, a P/E ratio of 18.85, a P/E/G ratio of 0.56 and a beta of 0.86.

Finning International (TSE:FTT) last announced its earnings results on Wednesday, August 5th. The company reported C$1.22 earnings per share (EPS) for the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. The company had revenue of C$3.13 billion for the quarter. Research analysts anticipate that Finning International will post 4.244898 EPS for the current fiscal year.

Insider Activity

In related news, insider Tim Arne Ferwerda sold 1,478 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 16,016 shares in the company, valued at approximately C$1,699,617.92. This represents a 8.45% decrease in their ownership of the stock. Also, insider Gary Samuel Megarrell sold 300 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the completion of the transaction, the insider owned 2,511 shares in the company, valued at C$258,633. This represents a 10.67% decrease in their ownership of the stock. Insiders sold a total of 7,813 shares of company stock worth $827,102 over the last quarter. 0.10% of the stock is currently owned by company 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.