Insider Buying: Foraco International (TSE:FAR) Director Buys C$48,280.00 in Stock

Foraco International SA (TSE:FAR) Director William Warren Holmes acquired 17,000 shares of Foraco International stock in a transaction on Monday, March 16th. The shares were purchased at an average price of C$2.84 per share, with a total value of C$48,280.00. Following the completion of the purchase, the director owned 450,001 shares in the company, valued at C$1,278,002.84. This represents a 3.93% increase in their position.

Foraco International Stock Down 4.9%

Shares of Foraco International stock opened at C$2.55 on Friday. The company has a 50-day simple moving average of C$2.91 and a two-hundred day simple moving average of C$2.47. The stock has a market capitalization of C$251.24 million, a PE ratio of 16.35 and a beta of 0.72. Foraco International SA has a 52-week low of C$1.57 and a 52-week high of C$3.54. The company has a debt-to-equity ratio of 99.57, a quick ratio of 0.88 and a current ratio of 1.36.

Foraco International (TSE:FAR) last posted its quarterly earnings results on Monday, March 2nd. The company reported C$0.03 EPS for the quarter. The firm had revenue of C$86.61 million for the quarter. Foraco International had a net margin of 6.02% and a return on equity of 16.77%. On average, analysts anticipate that Foraco International SA will post 0.5984655 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Desjardins lifted their target price on Foraco International from C$3.00 to C$4.50 and gave the stock a “buy” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$4.50.

About Foraco International

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.