Finning International (TSE:FTT) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Shares crossed above the 200-day moving average (200-day MA C$77.07), trading as high as C$88.76 and last at C$88.10, signaling a bullish technical breakout.
• Analyst sentiment improved as multiple firms raised price targets (TD, Scotiabank, RBC, Canaccord), leaving a consensus "Moderate Buy" with an average target of C$94.63 (six Buy, one Hold).
• Solid recent fundamentals: quarterly EPS C$1.02 on revenue of C$2.77B, market cap C$11.53B, P/E 17.83 and ROE 24.05%, indicating profitability alongside moderate valuation.

Shares of Finning International Inc. (TSE:FTT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$77.07 and traded as high as C$88.76. Finning International shares last traded at C$88.10, with a volume of 319,375 shares.

Analyst Ratings Changes

FTT has been the topic of a number of recent research reports. TD Securities raised their price target on shares of Finning International from C$100.00 to C$104.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. National Bank Financial upped their price objective on shares of Finning International from C$66.00 to C$72.00 and gave the stock a "sector perform" rating in a report on Monday, December 15th. Scotiabank increased their target price on shares of Finning International from C$92.00 to C$105.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Canaccord Genuity Group raised their target price 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. Finally, Royal Bank Of Canada boosted their price target on Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$94.63.

Finning International Stock Performance

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 firm has a fifty day simple moving average of C$88.52 and a 200 day simple moving average of C$77.07. The company has a market cap of C$11.53 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 0.56 and a beta of 0.62.

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