Finning International (TSE:FTT) Shares Cross Above 200 Day Moving Average of $28.58

Finning International Inc. (TSE:FTTGet Rating) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$28.58 and traded as high as C$32.20. Finning International shares last traded at C$31.91, with a volume of 498,873 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on FTT. BMO Capital Markets upgraded shares of Finning International from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$33.00 to C$38.00 in a report on Wednesday, November 9th. Royal Bank of Canada reduced their target price on shares of Finning International from C$47.00 to C$44.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Scotiabank lifted their target price on shares of Finning International from C$35.00 to C$37.00 in a report on Wednesday, November 9th. Finally, CIBC lifted their target price on shares of Finning International from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Finning International presently has a consensus rating of “Buy” and a consensus target price of C$43.22.

Finning International Price Performance

The company’s 50 day moving average is C$27.53 and its 200-day moving average is C$28.60. The stock has a market cap of C$4.95 billion and a PE ratio of 10.67. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 95.51.

Finning International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 24th will be given a $0.236 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.94 annualized dividend and a dividend yield of 2.91%. This is an increase from Finning International’s previous quarterly dividend of $0.21. Finning International’s payout ratio is presently 30.63%.

Insider Transactions at Finning International

In other news, Senior Officer Juan Pablo Amar sold 5,009 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of C$33.02, for a total value of C$165,402.19. Following the completion of the sale, the insider now owns 29,466 shares of the company’s stock, valued at approximately C$972,996.79. In related news, Senior Officer Juan Pablo Amar sold 5,009 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of C$33.02, for a total transaction of C$165,402.19. Following the completion of the sale, the insider now owns 29,466 shares of the company’s stock, valued at approximately C$972,996.79. Also, Senior Officer Sebastian Tomas Guridi sold 800 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of C$31.40, for a total transaction of C$25,116.00. Following the sale, the insider now directly owns 197 shares of the company’s stock, valued at approximately C$6,184.82.

About Finning International

(Get Rating)

Finning International Inc sells, services, and rents heavy equipment, and power and energy systems in Canada, Chile, the United Kingdom, Argentina, and internationally. The company offers telehandlers, articulated trucks, asphalt pavers, backhoe loaders, cable assist vehicles, cable yarding systems, chip dozers, cold planers, compactors, dozers, drills, electric rope shovels, excavators, material handlers, motor graders, off-highway trucks, pipelayers, remixing transfer vehicle, road reclaimers, road wideners, skid steer and compact track loaders, tack distributors, track loaders, underground-hard rock, wheel loaders, wheel tractor-scrapers, and windrow elevators, as well as attachments.

Further Reading

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