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

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) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$62.78 and last traded at C$62.52, with a volume of 46810 shares traded. The stock had previously closed at C$60.29.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FTT. TD Securities upped their price target on shares of Finning International from C$50.00 to C$57.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. BMO Capital Markets upped their price target on shares of Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Canaccord Genuity Group upped their price target on shares of Finning International from C$55.00 to C$60.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Scotiabank reduced their price target on shares of Finning International from C$65.00 to C$64.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada increased 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 research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$59.44.

Finning International Trading Down 0.6%

The firm has a market cap of C$7.88 billion, a PE ratio of 16.06, a P/E/G ratio of 0.56 and a beta of 1.55. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14. The company's 50-day moving average is C$57.79 and its 200 day moving average is C$47.24.

Insider Activity at Finning International

In other Finning International news, Senior Officer Kevin Parkes sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of C$51.42, for a total value of C$30,852.00. Also, Senior Officer Kieran Colquhoun Holm sold 4,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of C$51.00, for a total transaction of C$204,000.00. Insiders have sold a total of 17,628 shares of company stock worth $926,016 in the last 90 days. 0.10% of the stock is owned by corporate insiders.

Finning International Company Profile

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.