Finning International (TSE:FTT) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Stock breakout: Finning's share price crossed above its 200-day moving average (C$79.24), trading as high as C$91.59 and last at C$90.72 on volume of 285,687 shares.
• Analyst sentiment: Six analysts rate the stock Buy and one rates it Hold, giving a consensus of "Moderate Buy" with an average target of C$94.63 and several firms raising targets up to C$104.
• Recent results and valuation: the company reported quarterly EPS of C$1.02 and revenue of C$2.77 billion, with ROE of 24.05%, a market cap of C$11.87 billion and a P/E of 18.36.

Finning International Inc. (TSE:FTT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$79.24 and traded as high as C$91.59. Finning International shares last traded at C$90.72, with a volume of 285,687 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FTT. National Bank Financial lifted their price objective on Finning International from C$66.00 to C$72.00 and gave the stock a "sector perform" rating in a research note on Monday, December 15th. Scotiabank lifted their price objective on Finning International from C$92.00 to C$105.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 17th. TD Securities lifted their price objective on Finning International from C$100.00 to C$104.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce lifted their price objective on Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. Finally, Royal Bank Of Canada lifted their price objective on Finning International from C$89.00 to C$104.00 in a research note on Thursday, February 12th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Finning International presently has a consensus rating of "Moderate Buy" and an average target price of C$94.63.

Finning International Stock Up 1.1%

The company has a debt-to-equity ratio of 82.71, a current ratio of 1.67 and a quick ratio of 0.59. The stock has a market capitalization of C$11.87 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 0.56 and a beta of 0.69. The firm has a 50 day moving average of C$88.69 and a 200-day moving average of C$79.24.

Finning International (TSE:FTT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$1.02 earnings per share (EPS) 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. On average, equities research analysts expect that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

Finning International Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.