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

Key Points

• Finning International shares rose above their 200-day moving average, reaching C$100.98 before closing at C$99.75, compared with the C$94.65 average.
• Analysts remain bullish: all eight covering analysts rate the stock a Buy, with price targets raised as high as C$120 and a consensus target of C$115.78.
• The company reported quarterly EPS of C$1.02 on C$2.50 billion in revenue, while insiders sold 7,813 shares valued at approximately C$827,102 during the last quarter.

Finning International Inc. (TSE:FTT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$94.65 and traded as high as C$100.98. Finning International shares last traded at C$99.75, with a volume of 627,081 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on FTT shares. Scotiabank lifted their price objective on Finning International from C$114.00 to C$118.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 7th. TD upped their target price on Finning International from C$115.00 to C$120.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. BMO Capital Markets raised their target price on Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. National Bank Financial set a C$115.00 price target on Finning International and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Finally, Canadian Imperial Bank of Commerce lifted their target price on Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Finning International presently has a consensus rating of "Buy" and a consensus price target of C$115.78.

Finning International Stock Performance

The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59. The company has a market capitalization of C$13.02 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 0.56 and a beta of 0.88. The stock has a 50 day simple moving average of C$100.65 and a two-hundred day simple moving average of C$94.65.

Finning International (TSE:FTT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. The firm had revenue of C$2.50 billion during the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. As a group, analysts anticipate that Finning International Inc. will post 4.244898 earnings per share for the current year.

Insider Buying and Selling at Finning International

In other news, insider Gary Samuel Megarrell sold 300 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the completion of the sale, the insider owned 2,511 shares in the company, valued at approximately C$258,633. This trade represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total value of C$156,845.36. Following the transaction, the insider directly owned 16,016 shares of the company's stock, valued at approximately C$1,699,617.92. This trade represents a 8.45% decrease in their ownership of the stock. In the last quarter, insiders sold 7,813 shares of company stock valued at $827,102. 0.10% of the stock is owned by insiders.

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.

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