NFI Group (TSE:NFI) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• NFI Group shares crossed above their 50-day moving average, reaching C$25.35 and closing at C$25.11, compared with the C$24.03 moving average.
• Analysts remain bullish, with multiple firms raising price targets; the stock has an average “Buy” rating and a consensus target of C$30.50.
• Company insiders continued buying shares, acquiring 16,995 shares worth approximately C$396,102 over the past 90 days.

NFI Group Inc. (TSE:NFI - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$24.03 and traded as high as C$25.35. NFI Group shares last traded at C$25.11, with a volume of 185,127 shares trading hands.

Analyst Ratings Changes

NFI has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets lifted their price target on NFI Group from C$31.00 to C$32.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Stifel Nicolaus increased their price objective on NFI Group from C$26.00 to C$31.00 and gave the stock a "buy" rating in a report on Monday, August 10th. National Bank Financial raised their target price on NFI Group from C$29.00 to C$30.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. TD lifted their target price on NFI Group from C$26.00 to C$33.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, BMO Capital Markets boosted their price target on NFI Group from C$27.00 to C$32.00 in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, NFI Group has an average rating of "Buy" and a consensus target price of C$30.50.

NFI Group Trading Up 0.3%

The business's 50 day moving average price is C$24.03 and its two-hundred day moving average price is C$22.76. The company has a debt-to-equity ratio of 196.71, a quick ratio of 0.55 and a current ratio of 1.18. The company has a market capitalization of C$2.99 billion, a price-to-earnings ratio of 55.41, a price-to-earnings-growth ratio of -0.07 and a beta of 0.24.

NFI Group (TSE:NFI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.33 earnings per share for the quarter. The business had revenue of C$1.46 billion during the quarter. NFI Group had a return on equity of 10.42% and a net margin of 1.55%. Equities analysts forecast that NFI Group Inc. will post 1.2814107 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NFI Group news, insider Brian Keith Dewsnup bought 2,000 shares of NFI Group stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of C$23.29 per share, for a total transaction of C$46,580.00. Following the completion of the acquisition, the insider owned 75,610 shares of the company's stock, valued at approximately C$1,760,956.90. This represents a 2.72% increase in their position. Also, Director Colin Robertson purchased 10,000 shares of the firm's stock in a transaction on Friday, August 28th. The stock was acquired at an average price of C$22.55 per share, for a total transaction of C$225,500.00. Following the transaction, the director owned 343,783 shares of the company's stock, valued at C$7,752,306.65. The trade was a 3.00% increase in their position. Over the last ninety days, insiders acquired 16,995 shares of company stock worth $396,102. Corporate insiders own 0.62% of the company's stock.

NFI Group Company Profile

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With over 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts¿.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.