Finning International Inc. (TSE:FTT) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Finning International has a consensus analyst rating of "Buy", with all eight covering analysts recommending the stock and an average 1-year target price of C$115.78.
• Several brokerages recently raised their price targets, including BMO, CIBC, RBC, TD, and National Bank Financial, reflecting improving sentiment toward the shares.
• The stock opened at C$103.06, near its 12-month high of C$109.58, after the company reported quarterly EPS of C$1.02 on revenue of C$2.50 billion.

Finning International Inc. (TSE:FTT - Get Free Report) has been given a consensus rating of "Buy" by the eight analysts that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$115.78.

FTT has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. National Bank Financial set a C$115.00 price objective on shares of Finning International and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Canadian Imperial Bank of Commerce lifted their target price on shares of Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Royal Bank Of Canada upped their target price on shares of Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Finally, TD increased their price target on shares of Finning International from C$115.00 to C$120.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th.

Finning International Price Performance

Shares of FTT stock opened at C$103.06 on Tuesday. Finning International has a 12 month low of C$54.00 and a 12 month high of C$109.58. The company has a market capitalization of C$13.46 billion, a P/E ratio of 20.25, a P/E/G ratio of 0.56 and a beta of 0.88. The stock has a 50 day moving average of C$100.85 and a two-hundred day moving average of C$92.93. The company has a current ratio of 1.61, a quick ratio of 0.59 and a debt-to-equity ratio of 88.08.

Finning International (TSE:FTT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. The business had revenue of C$2.50 billion for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. As a group, equities analysts expect that Finning International will post 4.244898 EPS for the current year.

Insider Buying and Selling

In other news, insider Gary Samuel Megarrell sold 300 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total value of C$30,900.00. Following the sale, the insider directly owned 2,511 shares in the company, valued at approximately C$258,633. This represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total value of C$156,845.36. Following the completion of the sale, the insider 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. Insiders have sold 7,813 shares of company stock worth $827,102 over the last ninety days. Company insiders own 0.10% of the company's stock.

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.

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