Finning International (TSE:FTT) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Finning International (TSE:FTT) saw its share price exceed the 200-day moving average of C$45.93, closing at C$61.25 during Monday's trading session.
• Several equity analysts have revised their price targets for Finning International, with Royal Bank Of Canada increasing its target to C$61.00 and BMO Capital Markets raising it to C$66.00.
• Insider sales have occurred recently, with significant shares sold by Senior Officers, indicating some level of insider activity amidst an overall moderate buy rating on the stock.

Finning International Inc. (TSE:FTT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$45.93 and traded as high as C$61.73. Finning International shares last traded at C$61.25, with a volume of 504,341 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Finning International from C$55.00 to C$60.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Scotiabank lifted 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. Raymond James Financial lifted their target price on Finning International from C$50.00 to C$56.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada boosted their price objective on Finning International from C$49.00 to C$61.00 in a report on Thursday, May 22nd. Finally, TD Securities boosted 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$56.50.

Finning International Trading Down 0.5%

The stock has a market capitalization of C$8.37 billion, a P/E ratio of 17.04, a price-to-earnings-growth 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 has a 50-day moving average price of C$56.08 and a 200 day moving average price of C$45.93.

Insiders Place Their Bets

In other Finning International news, Senior Officer Sebastian Tomas Guridi sold 3,299 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$50.82, for a total transaction of C$167,655.18. 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. Over the last quarter, insiders sold 17,628 shares of company stock valued at $926,016. 0.10% of the stock is currently owned by corporate insiders.

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.