Scotiabank Forecasts Strong Price Appreciation for NFI Group (TSE:NFI) Stock

Key Points

• Scotiabank raised its NFI Group price target to C$28.50 from C$27.00 while maintaining a “sector outperform” rating, implying 12.92% upside from the prior close.
• Analyst sentiment is broadly positive: NFI has an average “Buy” rating and a consensus price target of C$30.50, with several brokerages recently lifting their targets to between C$31.00 and C$36.00.
• NFI reported quarterly revenue of C$1.46 billion and EPS of C$0.33; insiders have also purchased 188,515 shares worth approximately C$3.9 million over the past 90 days.

NFI Group (TSE:NFI - Get Free Report) had its price objective increased by equities researchers at Scotiabank from C$27.00 to C$28.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 12.92% from the company's previous close.

Several other brokerages have also recently commented on NFI. Stifel Nicolaus boosted their price target on shares of NFI Group from C$26.00 to C$31.00 and gave the stock a "buy" rating in a research note on Monday. BMO Capital Markets raised their price objective on NFI Group from C$27.00 to C$32.00 in a research report on Friday, August 7th. Canaccord Genuity Group lifted their target price on NFI Group from C$35.00 to C$36.00 and gave the stock a "buy" rating in a report on Monday. TD lifted their target price on NFI Group from C$26.00 to C$33.00 and gave the stock a "buy" rating in a report on Monday. Finally, ATB Cormark Capital Markets boosted their target price on NFI Group from C$31.00 to C$32.00 and gave the stock an "outperform" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$30.50.

NFI Group Price Performance

Shares of TSE NFI traded down C$0.03 during mid-day trading on Wednesday, reaching C$25.24. The company's stock had a trading volume of 266,981 shares, compared to its average volume of 317,795. The company has a debt-to-equity ratio of 196.71, a current ratio of 1.18 and a quick ratio of 0.55. NFI Group has a 52 week low of C$12.50 and a 52 week high of C$26.40. The stock has a fifty day moving average of C$24.11 and a two-hundred day moving average of C$20.89. The firm has a market capitalization of C$3.01 billion, a PE ratio of 55.69, a P/E/G ratio of -0.07 and a beta of 0.16.

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

Insiders Place Their Bets

In other NFI Group news, Director Adam L. Gray acquired 156,600 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average price of C$20.69 per share, for a total transaction of C$3,240,054.00. Following the acquisition, the director directly owned 25,526,215 shares in the company, valued at C$528,137,388.35. The trade was a 0.62% increase in their ownership of the stock. Also, insider Stephen King acquired 1,050 shares of the business's stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of C$23.85 per share, for a total transaction of C$25,042.50. Following the transaction, the insider directly owned 5,512 shares in the company, valued at C$131,461.20. The trade was a 23.53% increase in their ownership of the stock. In the last 90 days, insiders have purchased 188,515 shares of company stock valued at $3,913,702. 0.62% of the stock is owned by company insiders.

About NFI Group

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¿.

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