Finning International (TSE:FTT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised Finning International’s price target to C$122 from C$118 while maintaining an “outperform” rating, implying 27.72% upside from the prior close.
• Analyst sentiment is broadly positive: all eight analysts rate the stock a Buy, with a consensus target price of C$116.89.
• Finning reported quarterly EPS of C$1.22 on revenue of C$3.13 billion. Its shares traded at C$95.52, while insiders sold 7,813 shares worth approximately C$827,102 during the last quarter.

Finning International (TSE:FTT - Get Free Report) had its price objective hoisted by equities researchers at BMO Capital Markets from C$118.00 to C$122.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price target suggests a potential upside of 27.72% from the stock's previous close.

Several other analysts have also recently issued reports on FTT. National Bank Financial increased their price target on shares of Finning International from C$115.00 to C$118.00 and gave the stock an "outperform" rating in a research report on Friday. Raymond James Financial lifted their price objective on shares of Finning International from C$100.00 to C$120.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Scotiabank increased their target price on shares of Finning International from C$114.00 to C$118.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 7th. TD increased their target price on shares of Finning International from C$115.00 to C$120.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada boosted their price target on shares of Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$116.89.

Finning International Trading Up 0.1%

TSE:FTT traded up C$0.05 during trading hours on Friday, reaching C$95.52. 153,499 shares of the stock were exchanged, compared to its average volume of 449,101. Finning International has a twelve month low of C$55.82 and a twelve month high of C$109.58. The business has a 50-day moving average of C$100.34 and a two-hundred day moving average of C$94.82. The company has a market capitalization of C$12.47 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.56 and a beta of 0.86. The company has a quick ratio of 0.59, a current ratio of 1.61 and a debt-to-equity ratio of 88.08.

Finning International (TSE:FTT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$1.22 earnings per share (EPS) for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.The firm had revenue of C$3.13 billion for the quarter. On average, equities analysts predict that Finning International will post 4.244898 EPS for the current year.

Insider Buying and Selling

In other Finning International news, insider Tim Arne Ferwerda sold 1,478 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the completion of the transaction, the insider owned 16,016 shares in the company, valued at C$1,699,617.92. The trade was a 8.45% decrease in their position. Also, 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 transaction of C$30,900.00. Following the completion of the sale, the insider owned 2,511 shares in the company, valued at C$258,633. The trade was a 10.67% decrease in their ownership of the stock. Insiders sold 7,813 shares of company stock valued at $827,102 in the last quarter. 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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