Scotiabank Lowers Finning International (TSE:FTT) Price Target to C$64.00

Key Points

• Scotiabank has lowered the price target for Finning International's stock from C$65.00 to C$64.00, while maintaining an "outperform" rating, indicating a potential upside of 11.01%.
• Finning International's shares decreased by 0.8%, closing at C$57.65, amidst mixed analyst ratings with an average target price of C$59.44.
• Several firms, including BMO Capital Markets and Raymond James Financial, have increased their target prices, indicating a more optimistic view on the stock despite Scotiabank's recent downgrade.

Finning International (TSE:FTT - Free Report) had its price objective lowered by Scotiabank from C$65.00 to C$64.00 in a research note released on Thursday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other analysts have also issued reports on FTT. Royal Bank Of Canada boosted their price target on shares of Finning International from C$49.00 to C$61.00 in a research report on Thursday, May 22nd. Canaccord Genuity Group increased their price target on shares of 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. TD Securities lifted their price target on shares of Finning International from C$50.00 to C$57.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. National Bankshares lifted their price target on shares of Finning International from C$48.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, BMO Capital Markets lifted their price target on shares of Finning International from C$57.00 to C$66.00 in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$59.44.

Finning International Trading Down 0.5%

Shares of FTT traded down C$0.26 during trading hours on Thursday, hitting C$57.14. 500,962 shares of the 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 price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The business has a 50-day moving average of C$57.93 and a 200-day moving average of C$47.43. 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 debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59.

Insider Activity at Finning International

In other Finning International news, Senior Officer Gregory Palaschuk sold 4,070 shares of Finning International stock in a transaction dated Monday, June 16th. The stock was sold at an average price of C$54.80, for a total value of C$223,036.00. Also, Senior Officer Kieran Colquhoun Holm sold 1,413 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of C$50.98, for a total value of C$72,034.46. Insiders have sold a total of 17,628 shares of company stock valued at $926,016 in the last quarter. Corporate insiders own 0.10% of the company's stock.

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.