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

Key Points

• TD raised its price target for NFI Group from C$26 to C$33 and maintained a “buy” rating, implying 33.17% upside from the stock’s C$24.78 price.
• Analyst sentiment is broadly positive: NFI has a consensus “Buy” rating and an average target price of C$30.11, with several firms recently raising targets or upgrading the stock.
• NFI reported quarterly revenue of C$1.46 billion and EPS of C$0.33, while insiders bought 242,015 shares worth approximately C$5.03 million during the last quarter.

NFI Group (TSE:NFI - Get Free Report) had its price objective lifted by analysts at TD from C$26.00 to C$33.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price objective would suggest a potential upside of 33.17% from the company's current price.

A number of other equities research analysts have also weighed in on NFI. Canaccord Genuity Group upgraded NFI Group to a "strong-buy" rating in a research note on Monday, June 1st. Scotiabank increased their price objective on shares of NFI Group from C$24.50 to C$25.00 and gave the company a "sector outperform" rating in a research report on Monday, May 11th. National Bank Financial increased their price objective on shares of NFI Group from C$26.00 to C$29.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. BMO Capital Markets lifted their target price on shares of NFI Group from C$27.00 to C$32.00 in a research note on Friday. Finally, Stifel Nicolaus boosted their target price on shares of NFI Group from C$25.50 to C$26.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$30.11.

NFI Group Stock Down 0.8%

Shares of NFI Group stock traded down C$0.20 during trading on Monday, reaching C$24.78. The company's stock had a trading volume of 237,061 shares, compared to its average volume of 318,121. The company has a quick ratio of 0.55, a current ratio of 1.18 and a debt-to-equity ratio of 196.71. The company has a market cap of C$2.95 billion, a price-to-earnings ratio of -23.77, a P/E/G ratio of -0.07 and a beta of 0.16. NFI Group has a 1-year low of C$12.50 and a 1-year high of C$26.40. The company has a 50-day simple moving average of C$24.05 and a two-hundred day simple moving average of C$20.77.

NFI Group (TSE:NFI - Get Free Report) last announced 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, equities analysts forecast that NFI Group will post 1.2814107 earnings per share for the current year.

Insider Buying and Selling at NFI Group

In other news, Director Colin Robertson acquired 15,000 shares of NFI Group stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of C$20.82 per share, for a total transaction of C$312,300.00. Following the completion of the purchase, the director directly owned 333,783 shares in the company, valued at C$6,949,362.06. This trade represents a 4.71% increase in their position. Also, Director Adam L. Gray bought 5,200 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of C$22.55 per share, with a total value of C$117,260.00. Following the acquisition, the director directly owned 25,556,415 shares of the company's stock, valued at approximately C$576,297,158.25. This trade represents a 0.02% increase in their ownership of the stock. In the last quarter, insiders have bought 242,015 shares of company stock worth $5,025,732. 0.62% of the stock is owned by corporate 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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