Finning International (TSE:FTT) Trading 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)'s share price fell 11.9% during mid-day trading on Wednesday . The company traded as low as C$54.10 and last traded at C$54.28. 480,902 shares traded hands during 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

A number of research firms have issued reports on FTT. TD Securities upped their target price on shares of Finning International from C$50.00 to C$57.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada increased their price target on shares of Finning International from C$61.00 to C$67.00 and gave the company an "outperform" rating in a research report on Thursday. Scotiabank cut their price target on shares of Finning International from C$65.00 to C$64.00 and set an "outperform" rating on the stock in a research report on Thursday. National Bankshares increased their price target on shares of Finning International from C$48.00 to C$53.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Raymond James Financial increased their price target on shares of Finning International from C$56.00 to C$68.00 and gave the company an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$59.44.

Finning International Stock Down 0.6%

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's 50 day moving average is C$57.79 and its two-hundred day moving average is C$47.30. The firm has a market capitalization of C$7.88 billion, a P/E ratio of 16.06, a PEG ratio of 0.56 and a beta of 1.55.

Insider Activity

In related news, Senior Officer Gregory Palaschuk sold 4,070 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of C$54.80, for a total value of C$223,036.00. Also, Senior Officer Kieran Colquhoun Holm sold 4,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$51.00, for a total transaction of C$204,000.00. Insiders sold a total of 17,628 shares of company stock valued at $926,016 over the last three months. Corporate insiders own 0.10% of the company's stock.

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.