Foraco International (TSE:FAR) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Foraco shares crossed above its 200-day moving average (C$2.57) on Thursday, trading as high as C$3.07 and last at C$2.89 on volume of 27,300 shares.
• Desjardins upgraded the stock to a Buy and raised its price target from C$3.00 to C$4.50; MarketBeat's consensus rating is also Buy with a C$4.50 target.
• Director William Warren Holmes bought 17,000 shares at C$2.84, boosting his holdings and contributing to insiders owning 35.74% of the company; Foraco has a market cap of C$283.33M, a trailing P/E of ~18.5, and reported quarterly EPS of C$0.03 on C$86.61M revenue.

Foraco International SA (TSE:FAR - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.57 and traded as high as C$3.07. Foraco International shares last traded at C$2.89, with a volume of 27,300 shares traded.

Analyst Ratings Changes

Separately, Desjardins raised their price target on Foraco International from C$3.00 to C$4.50 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$4.50.

Foraco International Stock Performance

The stock has a market capitalization of C$283.33 million, a PE ratio of 18.53 and a beta of 1.10. The stock has a fifty day moving average of C$2.89 and a 200-day moving average of C$2.57. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 99.57.

Foraco International (TSE:FAR - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported C$0.03 earnings per share (EPS) for the quarter. The firm had revenue of C$86.61 million during the quarter. Foraco International had a return on equity of 16.77% and a net margin of 6.02%. Equities analysts anticipate that Foraco International SA will post 0.5984655 earnings per share for the current fiscal year.

Insider Transactions at Foraco International

In related news, Director William Warren Holmes bought 17,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average cost of C$2.84 per share, for a total transaction of C$48,280.00. Following the completion of the acquisition, the director owned 450,001 shares in the company, valued at approximately C$1,278,002.84. This trade represents a 3.93% increase in their position. Company insiders own 35.74% of the company's stock.

Foraco International Company Profile

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.

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