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 price objective increased by Royal Bank Of Canada from C$61.00 to C$67.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 17.26% from the company's current price.

FTT has been the subject of several other reports. BMO Capital Markets boosted their price target on Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Scotiabank dropped their price target on shares of Finning International from C$65.00 to C$64.00 and set an "outperform" rating on the stock in a research report on Thursday. National Bank Financial lowered shares of Finning International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Raymond James Financial raised their price target on shares of Finning International from C$56.00 to C$68.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their target price on shares of Finning International from C$55.00 to C$60.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$59.44.

Finning International Trading Down 0.5%

Finning International stock traded down C$0.26 during mid-day trading on Thursday, hitting C$57.14. 500,962 shares of the company's stock were exchanged, compared to its average volume of 499,236. The firm has a market capitalization of C$7.85 billion, a P/E ratio of 15.98, a PEG ratio of 0.56 and a beta of 1.55. Finning International has a fifty-two week low of C$34.59 and a fifty-two week high of C$62.78. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14. The company's 50 day simple moving average is C$57.93 and its 200-day simple moving average is C$47.43.

Insider Activity at Finning International

In related news, Senior Officer Kevin Parkes sold 600 shares of Finning International stock in a transaction on Thursday, May 15th. The shares were sold at an average price of C$51.42, for a total value of C$30,852.00. Also, Senior Officer Kieran Colquhoun Holm sold 4,000 shares of Finning International stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$51.00, for a total transaction of C$204,000.00. In the last three months, insiders sold 17,628 shares of company stock worth $926,016. 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.