Finning International (TSE:FTT) Stock Gets Price Target Cut from Canadian Imperial Bank of Commerce

Key Points

• CIBC lowered Finning International’s price target from C$122 to C$120, still implying 22.5% upside from the previous close.
• Analyst sentiment remains positive: Finning has a consensus “Buy” rating from nine analysts, with an average price target of C$117.80.
• Shares fell C$2.89 to C$97.96 during Thursday trading. The company recently reported C$1.22 in quarterly EPS on C$3.13 billion in revenue.

Finning International (TSE:FTT - Get Free Report) had its price target decreased by investment analysts at Canadian Imperial Bank of Commerce from C$122.00 to C$120.00 in a research note issued on Thursday, BayStreet reports. Canadian Imperial Bank of Commerce's price objective suggests a potential upside of 22.50% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus set a C$127.00 target price on Finning International and gave the stock a "buy" rating in a research report on Wednesday, September 30th. National Bank Financial upped their price objective on Finning International from C$115.00 to C$118.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Royal Bank Of Canada lowered their target price on Finning International from C$130.00 to C$129.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Scotiabank increased their target price on Finning International from C$114.00 to C$118.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 7th. Finally, BMO Capital Markets raised their target price on shares of Finning International from C$118.00 to C$122.00 and gave the company an "outperform" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, Finning International has a consensus rating of "Buy" and an average target price of C$117.80.

Finning International Stock Performance

Shares of TSE FTT traded down C$2.89 during trading on Thursday, hitting C$97.96. The company had a trading volume of 212,011 shares, compared to its average volume of 448,726. The company has a debt-to-equity ratio of 86.86, a quick ratio of 0.59 and a current ratio of 1.47. Finning International has a 12 month low of C$70.67 and a 12 month high of C$115.60. The firm has a market capitalization of C$12.75 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. The stock has a 50 day simple moving average of C$98.75 and a 200 day simple moving average of C$95.43.

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

About Finning International

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.