TFI International Inc. (NYSE:TFII) Sees Significant Drop in Short Interest

Key Points

• Short interest in TFI International dropped by 19.6% in August, from 918,100 to 737,700 shares, with a current days-to-cover ratio of 1.9 days.
• Several institutional investors, including Dixon Mitchell Investment Counsel Inc. and Geode Capital Management, increased their holdings in TFI International during the second quarter.
• TFI International declared a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 1.9% and a payout ratio of 41.28%.

TFI International Inc. (NYSE:TFII - Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 737,700 shares, a decline of 19.6% from the August 15th total of 918,100 shares. Based on an average trading volume of 391,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.0% of the shares of the company are short sold. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 391,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

TFII has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of TFI International from $101.00 to $116.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. UBS Group lifted their target price on TFI International from $88.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Stifel Nicolaus upped their price target on TFI International from $88.00 to $91.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Bank of America lifted their price objective on TFI International from $90.00 to $92.00 and gave the stock an "underperform" rating in a report on Tuesday, July 29th. Finally, Scotiabank lowered TFI International from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $117.06.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. United Services Automobile Association acquired a new stake in shares of TFI International in the first quarter valued at approximately $217,000. Marshall Wace LLP acquired a new position in shares of TFI International during the 2nd quarter worth about $294,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of TFI International by 4.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,012 shares of the company's stock valued at $698,000 after acquiring an additional 363 shares during the last quarter. Entropy Technologies LP raised its position in shares of TFI International by 46.9% in the 1st quarter. Entropy Technologies LP now owns 13,656 shares of the company's stock valued at $1,058,000 after acquiring an additional 4,361 shares during the period. Finally, Canoe Financial LP boosted its stake in TFI International by 168.5% during the 1st quarter. Canoe Financial LP now owns 36,857 shares of the company's stock worth $2,854,000 after acquiring an additional 23,131 shares during the last quarter. 73.30% of the stock is owned by institutional investors.

TFI International Price Performance

Shares of TFII traded down $0.06 during trading hours on Monday, hitting $93.39. The stock had a trading volume of 228,442 shares, compared to its average volume of 252,346. TFI International has a 52 week low of $72.02 and a 52 week high of $155.12. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 3.23 and a beta of 1.47. The company's fifty day moving average is $91.64 and its two-hundred day moving average is $87.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 1.03.

TFI International (NYSE:TFII - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.10. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.49 billion. TFI International had a net margin of 4.48% and a return on equity of 15.45%. On average, analysts anticipate that TFI International will post 7.76 EPS for the current year.

TFI International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, September 29th. TFI International's dividend payout ratio (DPR) is currently 41.28%.

About TFI International

TFI International Inc, together with its subsidiaries, provides transportation and logistics services in the United States and Canada. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items in North America.