Insider Buying: Foraco International (TSE:FAR) Director Acquires 17,000 Shares of Stock

Key Points

• Director William Warren Holmes purchased 17,000 shares at an average price of C$2.84 on March 16, spending C$48,280 and increasing his holding to 450,001 shares (a 3.93% increase).
• Shares dipped 1.1% to C$2.66 on Thursday with volume above average; the stock trades in a one-year range of C$1.57–C$3.54, has a market cap of about C$262M and a P/E of 17.05.
• Desjardins raised its price target to C$4.50 and gave a "buy" rating, while Foraco reported quarterly EPS of C$0.03 on C$86.61M revenue and analysts forecast roughly C$0.60 EPS for the year.

Foraco International SA (TSE:FAR - Get Free Report) Director William Warren Holmes purchased 17,000 shares of the business's stock in a transaction dated Monday, March 16th. The shares were purchased at an average price of C$2.84 per share, for a total transaction of C$48,280.00. Following the purchase, the director owned 450,001 shares of the company's stock, valued at approximately C$1,278,002.84. This trade represents a 3.93% increase in their position.

Foraco International Stock Down 1.1%

Shares of FAR stock traded down C$0.03 on Thursday, hitting C$2.66. The stock had a trading volume of 299,701 shares, compared to its average volume of 209,584. Foraco International SA has a one year low of C$1.57 and a one year high of C$3.54. The business has a 50 day moving average price of C$2.91 and a 200 day moving average price of C$2.46. The company has a market cap of C$262.08 million, a PE ratio of 17.05 and a beta of 0.72. 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 issued its earnings results on Monday, March 2nd. The company reported C$0.03 earnings per share (EPS) for the quarter. The company had revenue of C$86.61 million for the quarter. Foraco International had a net margin of 6.02% and a return on equity of 16.77%. Research analysts anticipate that Foraco International SA will post 0.5984655 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Desjardins lifted their price objective on shares of Foraco International from C$3.00 to C$4.50 and gave the company a "buy" rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Foraco International presently has an average rating of "Buy" and an average price target of C$4.50.

About Foraco International

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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