Finning International (TSE:FTT) Sets New 12-Month High - Here's Why

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$60.29 and last traded at C$60.19, with a volume of 49279 shares changing hands. The stock had previously closed at C$59.77.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FTT shares. Canaccord Genuity Group lifted their price target on Finning International from C$55.00 to C$60.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. National Bank Financial cut Finning International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Raymond James Financial upped their target price on Finning International from C$50.00 to C$56.50 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Scotiabank raised their price target on shares of Finning International from C$48.00 to C$55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, TD Securities upped their price objective on shares of Finning International from C$50.00 to C$57.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$54.94.

Finning International Trading Up 1.6%

The firm has a market capitalization of C$8.30 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 0.56 and a beta of 1.55. The company has a debt-to-equity ratio of 98.14, a quick ratio of 0.59 and a current ratio of 1.65. The company has a 50 day moving average price of C$51.25 and a two-hundred day moving average price of C$43.58.

Insider Activity at Finning International

In other Finning International news, Senior Officer Kieran Colquhoun Holm sold 1,413 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of C$50.98, for a total transaction of C$72,034.46. Also, Senior Officer Sebastian Tomas Guridi sold 3,299 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$50.82, for a total transaction of C$167,655.18. Insiders sold a total of 17,628 shares of company stock worth $926,016 in the last quarter. 0.10% of the stock is owned by insiders.

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.