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

Finning International Inc. (TSE:FTT) hit a new 52-week high on Wednesday . The stock traded as high as C$101.30 and last traded at C$100.54, with a volume of 141790 shares changing hands. The stock had previously closed at C$97.68.

Analyst Ratings Changes

Several analysts have issued reports on FTT shares. TD Securities boosted their target price on 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. Canadian Imperial Bank of Commerce increased their price target on Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. TD lifted their price objective on Finning International from C$104.00 to C$106.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Royal Bank Of Canada boosted their price objective on Finning International from C$89.00 to C$104.00 in a research note on Thursday, February 12th. Finally, Scotiabank upped their price objective on shares of Finning International from C$105.00 to C$109.00 and gave the company a “sector outperform” rating in a report on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$96.33.

Finning International Stock Up 3.1%

The stock has a market capitalization of C$13.18 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.56 and a beta of 0.70. The company has a debt-to-equity ratio of 82.71, a current ratio of 1.67 and a quick ratio of 0.59. The stock has a fifty day moving average price of C$90.90 and a 200 day moving average price of C$82.67.

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