National Bank Financial Issues Positive Forecast for Finning International (TSE:FTT) Stock Price

Key Points

• National Bank Financial raised Finning International’s price target to C$118 from C$115 and maintained an “outperform” rating, implying 23.53% upside from the reported C$95.52 share price.
• Analyst sentiment is broadly positive: all eight tracked analysts rate the stock a Buy, with a consensus target of C$116.89.
• Finning reported quarterly EPS of C$1.22 on revenue of C$3.13 billion, while insiders sold 7,813 shares worth approximately C$827,102 over the past 90 days.

Finning International (TSE:FTT - Get Free Report) had its price objective increased by investment analysts at National Bank Financial from C$115.00 to C$118.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective suggests a potential upside of 23.53% from the company's current price.

Several other research analysts have also recently issued reports on FTT. BMO Capital Markets raised their target price on shares of Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce upped their price target on shares of Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Royal Bank Of Canada increased their price target on shares of Finning International from C$104.00 to C$130.00 in a research report on Friday, May 15th. Scotiabank raised their price target 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. Finally, Raymond James Financial boosted 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 research report on Thursday, May 14th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$116.89.

Finning International Trading Up 0.1%

Shares of TSE FTT traded up C$0.05 during midday trading on Friday, reaching C$95.52. The company had a trading volume of 153,499 shares, compared to its average volume of 449,101. The stock has a market cap of C$12.47 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 0.56 and a beta of 0.86. Finning International has a one year low of C$55.82 and a one year high of C$109.58. The firm's fifty day moving average price is C$100.34 and its 200-day moving average price is C$94.82. 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 results on Wednesday, August 5th. The company reported C$1.22 earnings per share (EPS) for the quarter. The business had revenue of C$3.13 billion for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. On average, equities research analysts anticipate that Finning International will post 4.244898 earnings per share 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 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 transaction, the insider directly owned 16,016 shares of the company's stock, valued at approximately 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 company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the completion of the transaction, the insider owned 2,511 shares of the company's stock, valued at C$258,633. This trade represents a 10.67% decrease in their ownership of the stock. In the last 90 days, insiders have sold 7,813 shares of company stock valued at $827,102. 0.10% of the stock is owned by corporate insiders.

About Finning International

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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