Scotiabank Boosts Finning International (TSE:FTT) Price Target to C$109.00

Key Points

• Scotiabank raised its price target on Finning to C$109.00 (from C$105.00) and kept a "sector outperform" rating, implying roughly a 12.79% upside from the previous close.
• Multiple Canadian banks also boosted targets recently, leaving a MarketBeat consensus of "Moderate Buy" with a consensus target of C$96.33 (seven Buys, one Hold).
• Despite the upgrades, shares fell about 3.5% to C$96.64; Finning has a market cap of C$12.64 billion, a P/E of 19.56, and reported quarterly EPS of C$1.02 on revenue of C$2.77 billion.

Finning International (TSE:FTT - Get Free Report) had its price target raised by analysts at Scotiabank from C$105.00 to C$109.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's price target would indicate a potential upside of 12.79% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce increased their price objective on Finning International from C$84.00 to C$102.00 in a research note on Friday, February 6th. Royal Bank Of Canada boosted their price target on Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. TD Securities boosted their price target on Finning International from C$100.00 to C$104.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Canaccord Genuity Group boosted their price target on Finning International from C$90.00 to C$100.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Finally, TD raised their price target on shares of Finning International from C$104.00 to C$106.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$96.33.

Finning International Trading Down 3.5%

Shares of TSE:FTT traded down C$3.51 during trading on Tuesday, hitting C$96.64. The company had a trading volume of 127,668 shares, compared to its average volume of 430,075. The company has a debt-to-equity ratio of 82.71, a current ratio of 1.67 and a quick ratio of 0.59. Finning International has a one year low of C$38.42 and a one year high of C$101.89. The stock has a market cap of C$12.64 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.56 and a beta of 0.69. The company has a fifty day simple moving average of C$90.27 and a two-hundred day simple moving average of C$81.81.

Finning International (TSE:FTT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$1.02 earnings per share (EPS) for the quarter. The business had revenue of C$2.77 billion during the quarter. Finning International had a net margin of 6.21% and a return on equity of 24.05%. As a group, equities analysts forecast that Finning International will post 4.244898 earnings per share for the current year.

About Finning International

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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