Finning International (TSE:FTT) Sets New 1-Year High - Should You Buy?

Key Points

• Finning International's stock reached a new 52-week high, trading at C$62.96 with a volume of 160,091 shares.
• Analysts have revised their target prices upwards, with Royal Bank Of Canada setting a new target of C$67.00 and Raymond James Financial at C$68.00, supporting a consensus rating of "Moderate Buy."
• The company operates in multiple countries, providing a wide range of heavy equipment and related services, contributing to its recent stock performance and market capitalization of C$8.83 billion.

Shares of Finning International Inc. (TSE:FTT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$62.96 and last traded at C$62.96, with a volume of 160091 shares changing hands. The stock had previously closed at C$60.60.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FTT shares. BMO Capital Markets upped their target price on Finning International from C$57.00 to C$66.00 in a report on Tuesday, July 22nd. Raymond James Financial increased their price objective on Finning International from C$56.00 to C$68.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Scotiabank reduced their price objective on Finning International from C$65.00 to C$64.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Royal Bank Of Canada increased their price objective 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. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$59.44.

Finning International Trading Down 3.4%

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's 50 day moving average price is C$58.96 and its 200-day moving average price is C$50.88. The stock has a market capitalization of C$8.57 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.56 and a beta of 1.16.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.