Finning International (TSE:FTT) Hits New 1-Year High on Analyst Upgrade

Key Points

• Finning International's share price reached a new 52-week high after CIBC raised its price target from C$68.00 to C$77.00, indicating strong analyst support with an outperform rating.
• Multiple analysts have raised their price targets for Finning, with TD Securities increasing theirs from C$69.00 to C$81.00, contributing to its current average target price of C$66.00.
• The company's debt-to-equity ratio stands at 98.14, and it has a market capitalization of C$9.39 billion, positioning it as a significant player in the heavy-duty machinery distributor sector.

Finning International Inc. (TSE:FTT - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$68.00 to C$77.00. CIBC currently has an outperform rating on the stock. Finning International traded as high as C$71.13 and last traded at C$70.87, with a volume of 345293 shares traded. The stock had previously closed at C$69.26.

Several other research analysts have also commented on FTT. TD Securities lifted their target price on Finning International from C$69.00 to C$81.00 in a research report on Friday. Scotiabank boosted their price objective on Finning International from C$64.00 to C$71.00 in a research note on Friday. Raymond James Financial lifted their target price on Finning International from C$56.00 to C$68.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their price target on Finning International from C$61.00 to C$67.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets boosted their target price on Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$66.00.

Finning International Stock Up 2.3%

The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59. The stock has a market capitalization of C$9.39 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05. The firm has a 50 day moving average of C$61.25 and a 200-day moving average of C$54.54.

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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