Short Interest in TFI International Inc. (NYSE:TFII) Drops By 19.6%

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) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 737,700 shares, a drop 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 currently 1.9 days. Approximately 1.0% of the shares of the stock are short sold. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 391,000 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On TFI International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of TFI International by 44.4% during the 2nd quarter. Dixon Mitchell Investment Counsel Inc. now owns 818,334 shares of the company's stock worth $73,714,000 after buying an additional 251,444 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of TFI International by 19.1% during the 2nd quarter. Geode Capital Management LLC now owns 632,426 shares of the company's stock worth $57,214,000 after buying an additional 101,218 shares in the last quarter. Baskin Financial Services Inc. boosted its holdings in shares of TFI International by 1.6% during the 2nd quarter. Baskin Financial Services Inc. now owns 420,152 shares of the company's stock worth $37,711,000 after buying an additional 6,786 shares in the last quarter. QV Investors Inc. boosted its holdings in shares of TFI International by 0.8% during the 2nd quarter. QV Investors Inc. now owns 352,781 shares of the company's stock worth $31,604,000 after buying an additional 2,685 shares in the last quarter. Finally, Argent Capital Management LLC boosted its holdings in shares of TFI International by 303.4% during the 2nd quarter. Argent Capital Management LLC now owns 142,864 shares of the company's stock worth $12,811,000 after buying an additional 107,451 shares in the last quarter. 73.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group boosted their price target on TFI International from $88.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Bank of America raised their price objective on shares of TFI International from $90.00 to $92.00 and gave the company an "underperform" rating in a report on Tuesday, July 29th. Scotiabank lowered shares of TFI International from a "sector outperform" rating to a "sector perform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of TFI International from $101.00 to $116.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, CIBC dropped their price objective on shares of TFI International from $110.00 to $109.00 and set an "outperform" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $117.06.

TFI International Trading Up 0.9%

Shares of TFII stock traded up $0.88 during mid-day trading on Thursday, hitting $94.46. The company's stock had a trading volume of 299,417 shares, compared to its average volume of 249,151. The company has a market cap of $7.78 billion, a PE ratio of 19.14, a P/E/G ratio of 3.23 and a beta of 1.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.03 and a current ratio of 1.05. The company's fifty day simple moving average is $91.46 and its 200-day simple moving average is $86.98. TFI International has a 52 week low of $72.02 and a 52 week high of $155.12.

TFI International (NYSE:TFII - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.10. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.49 billion. TFI International had a return on equity of 15.45% and a net margin of 4.48%. As a group, equities research analysts expect that TFI International will post 7.76 earnings per share for the current fiscal year.

TFI International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 dividend yield of 1.9%. The ex-dividend date is Monday, September 29th. TFI International's dividend payout ratio is presently 41.28%.

TFI International Company Profile

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.

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