Royal Bank Of Canada Lowers Finning International (TSE:FTT) Price Target to C$129.00

Key Points

• Royal Bank of Canada lowered Finning International’s price target to C$129 from C$130 while maintaining an “outperform” rating, implying 36.9% potential upside from the stock’s current price.
• Analyst sentiment remains positive: nine analysts rate the stock “Buy,” with a consensus rating of “Buy” and an average price target of C$116.78.
• Finning shares traded at C$94.23, while the company recently reported C$1.22 in quarterly EPS on C$3.13 billion in revenue; insiders have sold 7,813 shares worth approximately C$827,102 over the past quarter.

Finning International (TSE:FTT - Get Free Report) had its target price reduced by analysts at Royal Bank Of Canada from C$130.00 to C$129.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 36.90% from the company's current price.

A number of other equities analysts have also commented on FTT. National Bank Financial raised their price objective on shares of Finning International from C$115.00 to C$118.00 and gave the company an "outperform" rating in a research report on Friday. Canadian Imperial Bank of Commerce boosted their price target on shares of Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Raymond James Financial lifted their price objective on Finning International from C$100.00 to C$120.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. BMO Capital Markets upped their target price on Finning International from C$118.00 to C$122.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, TD lifted their price target on Finning International from C$115.00 to C$120.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, Finning International presently has a consensus rating of "Buy" and an average price target of C$116.78.

Finning International Stock Performance

FTT stock traded down C$1.72 during midday trading on Monday, reaching C$94.23. 159,321 shares of the company's stock traded hands, compared to its average volume of 449,253. The firm has a market capitalization of C$12.26 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.86. The company has a 50-day moving average price of C$100.18 and a two-hundred day moving average price of C$94.90. Finning International has a 52 week low of C$55.82 and a 52 week high of C$109.58. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61.

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 for the quarter. The company had revenue of C$3.13 billion during the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. As a group, equities analysts anticipate that Finning International will post 4.244898 EPS for the current year.

Insider Activity

In other Finning International news, insider Tim Arne Ferwerda sold 1,478 shares of Finning International stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the transaction, the insider directly owned 16,016 shares of the company's stock, valued at approximately C$1,699,617.92. This trade represents a 8.45% decrease in their ownership of the stock. Also, insider Gary Samuel Megarrell sold 300 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the completion of the sale, the insider directly owned 2,511 shares of the company's stock, valued at C$258,633. This trade represents a 10.67% decrease in their position. Insiders have sold a total of 7,813 shares of company stock worth $827,102 over the last quarter. Corporate insiders own 0.10% of the company's stock.

Finning International Company Profile

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.

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