Finning International (TSE:FTT) Reaches New 1-Year High - What's Next?

Key Points

• Finning International shares hit a new 52-week high, trading as high as C$109.36 after closing previously at C$104.61. The stock was up about 3.3% on the day.
• Analysts have turned increasingly bullish, with several firms raising price targets and the current consensus rating at Buy. The average price target now stands at C$115.78.
• The company’s recent fundamentals show solid profitability, including C$1.02 EPS and C$2.50 billion in quarterly revenue. Analysts expect full-year EPS of about 4.24.

Finning International Inc. (TSE:FTT - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as C$109.36 and last traded at C$109.04, with a volume of 221690 shares changing hands. The stock had previously closed at C$104.61.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. Scotiabank raised their target price on Finning International from C$114.00 to C$118.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their target price on Finning International from C$104.00 to C$130.00 in a research report on Friday, May 15th. Raymond James Financial upped their price target on Finning International from C$100.00 to C$120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Finally, National Bank Financial set a C$115.00 price target on Finning International and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$115.78.

Finning International Trading Up 3.3%

The firm has a market cap of C$14.10 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 0.56 and a beta of 0.88. The firm's 50-day moving average is C$100.54 and its 200-day moving average is C$92.49. 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 for the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. The firm had revenue of C$2.50 billion for the quarter. As a group, sell-side analysts anticipate that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

Insider Transactions at Finning International

In related news, insider Gary Samuel Megarrell sold 300 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the transaction, the insider owned 2,511 shares of the company's stock, valued at approximately C$258,633. This trade represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the completion of the transaction, the insider directly owned 16,016 shares in the company, valued at approximately C$1,699,617.92. The trade was a 8.45% decrease in their position. Insiders sold a total of 7,813 shares of company stock worth $827,102 in the last 90 days. 0.10% of the stock is currently owned by company insiders.

Finning International Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.