Finning International (TSE:FTT) Shares Down 11.9% - Here's What Happened

Key Points

• Finning International Inc. shares fell by 11.9% to C$54.28, compared to a previous close of C$61.64, with a slight increase in trading volume.
• Several analysts have raised their price targets for Finning International, with TD Securities increasing their target from C$50.00 to C$57.00 and maintaining a "buy" rating.
• Insiders sold a total of 17,628 shares in the last ninety days, raising concerns as only 0.10% of the stock is owned by insiders, indicating minimal insider confidence.

Finning International Inc. (TSE:FTT - Get Free Report) shares traded down 11.9% on Wednesday . The stock traded as low as C$54.10 and last traded at C$54.28. 480,902 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 477,316 shares. The stock had previously closed at C$61.64.

Analyst Ratings Changes

FTT has been the subject of a number of research reports. TD Securities upped their price target on shares of Finning International from C$50.00 to C$57.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Scotiabank increased their price target on shares of Finning International from C$48.00 to C$55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. 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. Royal Bank Of Canada raised their target price on shares of Finning International from C$49.00 to C$61.00 in a report on Thursday, May 22nd. Finally, Raymond James Financial raised their price objective on shares of Finning International from C$50.00 to C$56.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$56.50.

Finning International Price Performance

The stock's fifty day simple moving average is C$57.35 and its 200 day simple moving average is C$46.83. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59. The firm has a market capitalization of C$7.87 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.56 and a beta of 1.55.

Insiders Place Their Bets

In related news, Senior Officer Sebastian Tomas Guridi sold 3,299 shares of Finning International stock in a transaction on Thursday, June 5th. The stock was sold at an average price of C$50.82, for a total value of C$167,655.18. Also, Senior Officer Gregory Palaschuk sold 4,070 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of C$54.80, for a total value of C$223,036.00. Insiders sold a total of 17,628 shares of company stock worth $926,016 in the last ninety days. 0.10% of the stock is owned by 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.

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