Finning International (TSE:FTT) Sets New 1-Year High - Here's What Happened

Key Points

• Finning International shares reached a new 52-week high, trading as high as C$114.19 and closing activity near C$113.57, up from the prior close of C$112.30.
• Analysts remain bullish, with multiple firms raising price targets to between C$118 and C$127. The stock has a consensus “Buy” rating and an average target of C$117.80.
• In its latest quarter, Finning reported C$1.22 in EPS and C$3.13 billion in revenue, with a 19.22% return on equity and a 4.93% net margin.

Finning International Inc. (TSE:FTT - Get Free Report)'s stock price reached a new 52-week high on Tuesday. The stock traded as high as C$114.19 and last traded at C$113.57, with a volume of 207674 shares changing hands. The stock had previously closed at C$112.30.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotiabank upped 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 research report on Tuesday, July 7th. Stifel Nicolaus set a C$127.00 price objective on shares of Finning International and gave the company a "buy" rating in a research report on Wednesday, September 30th. National Bank Financial boosted their price objective on shares of Finning International from C$115.00 to C$118.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. TD boosted their price objective on shares of Finning International from C$115.00 to C$120.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Finally, BMO Capital Markets raised their target price on shares of Finning International from C$118.00 to C$122.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$117.80.

Finning International Price Performance

The business has a fifty day moving average of C$96.18 and a two-hundred day moving average of C$96.97. The company has a debt-to-equity ratio of 86.86, a quick ratio of 0.59 and a current ratio of 1.47. The firm has a market capitalization of C$14.78 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 0.56 and a beta of 0.78.

Finning International (TSE:FTT - Get Free Report) last announced its quarterly earnings results 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 19.22% and a net margin of 4.93%.The business had revenue of C$3.13 billion during the quarter. As a group, research analysts predict that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

About Finning International

Finning is the world's largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers' toughest challenges.

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