Finning International (TSE:FTT) Reaches New 1-Year High - Here's Why

Key Points

• Finning International's stock recently peaked at a new 12-month high of C$62.78, indicating strong market performance and interest.
• Several financial institutions have upgraded their price targets for Finning International, with a consensus rating of "Moderate Buy" and an average price target of C$56.50.
• Recent insider trading activity shows senior officers have sold a total of 17,628 shares over the last three months, raising questions about insider sentiment amid the stock's rally.

Finning International Inc. (TSE:FTT - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as C$62.78 and last traded at C$62.52, with a volume of 46810 shares changing hands. The stock had previously closed at C$60.29.

Analyst Ratings Changes

A number of brokerages have commented on FTT. TD Securities upped their price objective on Finning International from C$50.00 to C$57.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. National Bankshares increased their target price on Finning International from C$48.00 to C$53.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada increased their target price on Finning International from C$49.00 to C$61.00 in a report on Thursday, May 22nd. Scotiabank increased their target price on Finning International from C$48.00 to C$55.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, National Bank Financial lowered Finning International from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$56.50.

Finning International Price Performance

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$7.98 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.56 and a beta of 1.55. The firm has a 50-day simple moving average of C$57.51 and a 200 day simple moving average of C$46.91.

Insider Transactions at Finning International

In other news, Senior Officer Kieran Colquhoun Holm sold 4,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$51.00, for a total value of C$204,000.00. Also, Senior Officer Gregory Palaschuk sold 4,070 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of C$54.80, for a total value of C$223,036.00. Insiders have sold a total of 17,628 shares of company stock valued at $926,016 over the last three months. Company insiders own 0.10% of the company's stock.

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.