Finning International (TSE:FTT) Stock Breaks Below Two Hundred Day Moving Average on Analyst Downgrade

Key Points

• Finning International shares fell below their 200-day moving average after CIBC reduced its price target from C$122 to C$120. The stock traded as low as C$91.08 and closed at C$92.57, below its C$95.59 200-day average.
• Despite the decline, analyst sentiment remains positive: Finning has a consensus “Buy” rating and an average price target of C$117.80, with ratings including one Strong Buy and eight Buys.
• The company reported quarterly EPS of C$1.22 on revenue of C$3.13 billion, alongside a 19.22% return on equity and a 4.93% net margin. Analysts expect full-year EPS of C$4.24.

Finning International Inc. (TSE:FTT - Get Free Report) shares passed below its 200-day moving average during trading on Friday after Canadian Imperial Bank of Commerce lowered their price target on the stock from C$122.00 to C$120.00. The stock has a 200-day moving average of C$95.59 and traded as low as C$91.08. Finning International shares last traded at C$92.57, with a volume of 575,335 shares traded.

Several other equities analysts also recently issued reports on the company. Royal Bank Of Canada cut their price objective on Finning International from C$130.00 to C$129.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Stifel Nicolaus set a C$127.00 target price on Finning International and gave the stock a "buy" rating in a report on Wednesday, September 30th. National Bank Financial raised their target price on Finning International from C$115.00 to C$118.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Scotiabank lifted their price target on Finning International from C$114.00 to C$118.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 7th. Finally, BMO Capital Markets upped their price target on shares of Finning International from C$118.00 to C$122.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$117.80.

Finning International Stock Performance

The stock has a market cap of C$12.04 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 0.56 and a beta of 0.48. The company has a current ratio of 1.47, a quick ratio of 0.59 and a debt-to-equity ratio of 86.86. The firm has a fifty day simple moving average of C$98.88 and a 200-day simple moving average of C$95.59.

Finning International (TSE:FTT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported C$1.22 EPS for the quarter. The company had revenue of C$3.13 billion during the quarter. Finning International had a return on equity of 19.22% and a net margin of 4.93%. Analysts forecast that Finning International Inc. will post 4.24 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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