Finning International (TSE:FTT) Sets New 12-Month High - Still a Buy?

Key Points

• Finning International hit a new 52-week high, trading as high as C$98.98 (last C$98.84) on Tuesday, up from a prior close of C$95.82.
• Several analysts have raised price targets recently—RBC to C$104, TD to C$106, CIBC to C$102—with seven "Buy" and one "Hold" rating and an average target of C$95.89, leaving the consensus at "Moderate Buy".
• The company reported solid fundamentals with last-quarter EPS of C$1.02, ROE of 24.05% and revenue of C$2.77B, and trades at a market cap of C$12.81B with a P/E of 19.82 and a P/E/G of 0.56.

Finning International Inc. (TSE:FTT - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$98.98 and last traded at C$98.84, with a volume of 24782 shares trading hands. The stock had previously closed at C$95.82.

Wall Street Analyst Weigh In

FTT has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. Canaccord Genuity Group boosted their price target on Finning International from C$90.00 to C$100.00 and gave the company a "buy" rating in a report on Monday, February 9th. Canadian Imperial Bank of Commerce boosted their price target on Finning International from C$84.00 to C$102.00 in a report on Friday, February 6th. TD boosted their price target on Finning International from C$104.00 to C$106.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Finally, TD Securities boosted their price target on Finning International from C$100.00 to C$104.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Finning International currently has an average rating of "Moderate Buy" and an average target price of C$95.89.

Finning International Trading Up 2.2%

The business has a 50-day simple moving average of C$89.25 and a two-hundred day simple moving average of C$80.66. The stock has a market cap of C$12.81 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 0.56 and a beta of 0.69. The company has a debt-to-equity ratio of 82.71, a current ratio of 1.67 and a quick ratio of 0.59.

Finning International (TSE:FTT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$1.02 earnings per share for the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%.The firm had revenue of C$2.77 billion for the quarter. Equities analysts forecast that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

About Finning International

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.

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