Finning International (TSE:FTT) Hits New 1-Year High - Still a Buy?

Key Points

• Shares of Finning International reached a new 52-week high of C$67.34, with last trading at C$67.05.
• Analysts have upgraded their target prices for the stock, with Royal Bank of Canada setting a target of C$67.00 and Raymond James Financial at C$68.00.
• The company has a consensus rating of "Moderate Buy" from analysts, with seven ratings as Buy and one as Hold.

Shares of Finning International Inc. (TSE:FTT - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$67.34 and last traded at C$67.05, with a volume of 8074 shares changing hands. The stock had previously closed at C$66.60.

Analyst Upgrades and Downgrades

FTT has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on shares of Finning International from C$61.00 to C$67.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial boosted their target price on shares of Finning International from C$56.00 to C$68.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of Finning International from C$57.00 to C$66.00 in a report on Tuesday, July 22nd. Finally, Scotiabank dropped their target price on shares of Finning International from C$65.00 to C$64.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$59.44.

Finning International Trading Up 0.0%

The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14. The stock has a market capitalization of C$8.83 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.56 and a beta of 1.05. The firm's 50 day simple moving average is C$59.82 and its two-hundred day simple moving average is C$52.79.

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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