Royal Bank Of Canada Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Key Points

• Royal Bank of Canada has increased its target price for Finning International from C$61.00 to C$67.00, predicting a 16.22% upside potential from the stock's previous close.
• Various brokerages have issued reports with target prices ranging from C$48.00 to C$68.00, with the consensus rating being a "Moderate Buy" and an average price target of C$59.44.
• Recent insider transactions indicate substantial sales of shares by officers, with a reported 17,628 shares valued at $926,016 sold in the last 90 days.

Finning International (TSE:FTT - Get Free Report) had its target price hoisted by Royal Bank Of Canada from C$61.00 to C$67.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 16.22% from the stock's previous close.

FTT has been the subject of several other research reports. National Bankshares lifted their price objective on Finning International from C$48.00 to C$53.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. National Bank Financial lowered Finning International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Raymond James Financial lifted their price objective on Finning International from C$56.00 to C$68.00 and gave the company an "outperform" rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on Finning International from C$55.00 to C$60.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, TD Securities lifted their price target on Finning International from C$50.00 to C$57.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$59.44.

Finning International Stock Performance

TSE:FTT traded down C$0.48 during trading hours on Thursday, reaching C$57.65. The stock had a trading volume of 578,828 shares, compared to its average volume of 494,242. The stock has a market cap of C$7.92 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. Finning International has a 12-month low of C$34.59 and a 12-month high of C$62.78. The company has a debt-to-equity ratio of 98.14, a quick ratio of 0.59 and a current ratio of 1.65. The stock has a 50 day simple moving average of C$57.51 and a 200 day simple moving average of C$46.91.

Insider Transactions at Finning International

In other news, Senior Officer Sebastian Tomas Guridi sold 3,299 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of C$50.82, for a total value of C$167,655.18. Also, Senior Officer Kevin Parkes sold 600 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of C$51.42, for a total value of C$30,852.00. Insiders sold 17,628 shares of company stock valued at $926,016 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Finning International Company Profile

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.

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