Finning International (TSE:FTT) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Finning International's share price has crossed above its 200-day moving average of C$48.13, currently trading at C$57.11 with significant trading volume.
• Analyst ratings are generally positive, with multiple firms upgrading price targets, leading to a consensus rating of "Moderate Buy" and an average price target of C$59.44.
• Despite positive stock movement, insider transactions included sales totaling over C$570,000 in the last quarter, indicating potential concerns among corporate insiders.

Finning International Inc. (TSE:FTT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$48.13 and traded as high as C$57.46. Finning International shares last traded at C$57.11, with a volume of 348,690 shares traded.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Scotiabank cut their target price on shares of Finning International from C$65.00 to C$64.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. National Bankshares raised their target price on shares of Finning International from C$48.00 to C$53.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. BMO Capital Markets raised their target price on shares of Finning International from C$57.00 to C$66.00 in a report on Tuesday, July 22nd. TD Securities raised their target price on shares of Finning International from C$50.00 to C$57.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Raymond James Financial raised their target price on shares of Finning International from C$56.00 to C$68.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Finning International currently has a consensus rating of "Moderate Buy" and an average price target of C$59.44.

Finning International Stock Performance

The stock has a fifty day moving average price of C$58.77 and a two-hundred day moving average price of C$48.59. The company has a market cap of C$7.80 billion, a P/E ratio of 15.88, a PEG ratio of 0.56 and a beta of 1.55. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59.

Insider Buying and Selling

In related news, Senior Officer Gregory Palaschuk sold 4,070 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of C$54.80, for a total transaction of C$223,036.00. Also, Senior Officer Sebastian Tomas Guridi sold 3,299 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of C$50.82, for a total transaction of C$167,655.18. Insiders have sold 10,654 shares of company stock worth $570,740 in the last quarter. 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.