NFI Group (TSE:NFI) PT Set at C$28.50 by Scotiabank

Key Points

• Scotiabank set a C$28.50 price target for NFI Group and maintained a “sector outperform” rating, implying 12.6% upside from the prior close.
• Analyst sentiment remains positive: NFI Group has a consensus “Buy” rating and an average price target of C$30.50, with several firms recently raising their targets.
• NFI Group shares closed at C$25.31, while company insiders purchased nearly 17,000 shares worth approximately C$396,000 over the past 90 days.

NFI Group (TSE:NFI - Get Free Report) has been assigned a C$28.50 price target by investment analysts at Scotiabank in a note issued to investors on Thursday, BayStreet reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 12.60% from the company's previous close.

Other analysts have also recently issued reports about the stock. ATB Cormark Capital Markets upped their target price on shares of NFI Group from C$31.00 to C$32.00 and gave the company an "outperform" rating in a report on Monday, August 10th. National Bank Financial lifted their price target on shares of NFI Group from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Canaccord Genuity Group lifted their price target on shares of NFI Group from C$35.00 to C$36.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. TD boosted their price objective on shares of NFI Group from C$26.00 to C$33.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Finally, Stifel Nicolaus upped their price objective on NFI Group from C$26.00 to C$31.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$30.50.

NFI Group Stock Performance

Shares of NFI Group stock traded down C$0.27 during trading hours on Thursday, reaching C$25.31. 106,565 shares of the stock traded hands, compared to its average volume of 306,268. The company has a 50 day moving average price of C$24.08 and a 200 day moving average price of C$23.01. The firm has a market capitalization of C$3.02 billion, a price-to-earnings ratio of 55.85, a P/E/G ratio of -0.07 and a beta of 0.24. NFI Group has a one year low of C$12.50 and a one year high of C$26.40. The company has a quick ratio of 0.55, a current ratio of 1.18 and a debt-to-equity ratio of 196.71.

NFI Group (TSE:NFI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.33 EPS for the quarter. The firm had revenue of C$1.46 billion during the quarter. NFI Group had a net margin of 1.55% and a return on equity of 10.42%. On average, equities research analysts expect that NFI Group will post 1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Christopher Sapp purchased 1,900 shares of the stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of C$24.88 per share, with a total value of C$47,272.00. Following the completion of the acquisition, the director directly owned 27,243 shares of the company's stock, valued at C$677,805.84. This trade represents a 7.50% increase in their ownership of the stock. Also, insider Brian Keith Dewsnup purchased 2,000 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of C$23.29 per share, with a total value of C$46,580.00. Following the completion of the transaction, the insider owned 75,610 shares of the company's stock, valued at approximately C$1,760,956.90. This trade represents a 2.72% increase in their ownership of the stock. In the last 90 days, insiders have bought 16,995 shares of company stock worth $396,102. Company insiders own 0.62% of the company's stock.

About NFI Group

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With over 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts¿.

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