CIBC Lowers TFI International (NYSE:TFII) Price Target to $109.00

Key Points

• CIBC has reduced its price target for TFI International from $110.00 to $109.00 while maintaining an "outperform" rating, suggesting a potential upside of 14.93% from the current stock price.
• The company's recent quarterly earnings report showed an EPS of $1.34, exceeding analysts' expectations, with revenue reaching $2.04 billion compared to the anticipated $1.49 billion.
• Institutional and hedge fund ownership of TFI International stands at 73.30%, with various funds increasing their stakes significantly in the recent quarter.

TFI International (NYSE:TFII - Free Report) had its target price lowered by CIBC from $110.00 to $109.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus raised their target price on TFI International from $88.00 to $91.00 and gave the company a "hold" rating in a report on Thursday, July 24th. UBS Group raised their target price on TFI International from $88.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of TFI International from $101.00 to $116.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Citigroup set a $108.00 price objective on shares of TFI International and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Cormark downgraded shares of TFI International from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.06.

TFI International Price Performance

TFI International stock traded down $0.99 during mid-day trading on Wednesday, hitting $93.42. 601,497 shares of the company were exchanged, compared to its average volume of 251,951. TFI International has a 1-year low of $72.02 and a 1-year high of $155.12. The company has a market capitalization of $7.70 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.47. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $91.57 and a 200 day moving average of $87.13.

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

TFI International Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, September 29th. TFI International's dividend payout ratio (DPR) is currently 41.28%.

Institutional Trading of TFI International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Services Automobile Association bought a new position in shares of TFI International in the first quarter worth $217,000. Marshall Wace LLP purchased a new stake in TFI International in the 2nd quarter worth approximately $294,000. Sumitomo Mitsui Trust Group Inc. raised its stake in TFI International by 4.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,012 shares of the company's stock valued at $698,000 after buying an additional 363 shares during the last quarter. Entropy Technologies LP grew its holdings in shares of TFI International by 46.9% in the first quarter. Entropy Technologies LP now owns 13,656 shares of the company's stock worth $1,058,000 after acquiring an additional 4,361 shares during the period. Finally, Canoe Financial LP lifted its position in shares of TFI International by 168.5% in the first quarter. Canoe Financial LP now owns 36,857 shares of the company's stock worth $2,854,000 after buying an additional 23,131 shares in the last quarter. 73.30% of the stock is owned by institutional investors.

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.