Finning International (TSE:FTT) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Finning International Inc. (TSE:FTT) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$98.51 and traded as high as C$102.12. Finning International shares last traded at C$100.85, with a volume of 292,129 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTT. Stifel Nicolaus set a C$127.00 price target on Finning International and gave the company a “buy” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada cut their price objective on Finning International from C$130.00 to C$129.00 and set an “outperform” rating for the company in a report on Monday, August 10th. BMO Capital Markets upped their target price on shares of Finning International from C$118.00 to C$122.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. National Bank Financial increased their target price on shares of Finning International from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Scotiabank lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, Finning International has a consensus rating of “Buy” and an average target price of C$117.80.

Finning International Price Performance

The company has a debt-to-equity ratio of 86.86, a current ratio of 1.47 and a quick ratio of 0.59. The company’s 50 day moving average price is C$98.35 and its 200 day moving average price is C$98.57. The firm has a market capitalization of C$12.56 billion, a P/E ratio of 23.04, a PEG ratio of 0.56 and a beta of 0.48.

Finning International (TSE:FTT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$1.22 earnings per share for the quarter. The firm had revenue of C$3.13 billion during the quarter. Finning International had a net margin of 4.93% and a return on equity of 19.22%. As a group, sell-side analysts anticipate that Finning International Inc. will post 4.24 EPS for the current fiscal year.

Finning International Company Profile

Finning is the world’s largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers’ toughest challenges.