Finning International (TSE:FTT) Hits New 12-Month High – Here’s Why

Shares of Finning International Inc. (TSE:FTT) reached a new 52-week high on Tuesday . The company traded as high as C$107.53 and last traded at C$105.90, with a volume of 347844 shares. The stock had previously closed at C$104.13.

Wall Street Analyst Weigh In

FTT has been the subject of a number of research reports. TD raised their price objective on Finning International from C$106.00 to C$115.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. National Bank Financial upgraded Finning International from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$89.00 to C$115.00 in a research report on Thursday, May 14th. Raymond James Financial raised their price objective on Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. TD Securities raised their price objective on Finning International from C$100.00 to C$104.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$114.22.

Finning International Trading Up 1.8%

The stock has a market cap of C$14.04 billion, a P/E ratio of 21.12, a PEG ratio of 0.56 and a beta of 0.70. The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59. The business’s 50 day simple moving average is C$95.79 and its 200 day simple moving average is C$86.90.

Finning International (TSE:FTT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$1.02 EPS for the quarter. The firm had revenue of C$2.50 billion during the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. On average, analysts expect that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Finning International news, insider Gary Samuel Megarrell sold 300 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the completion of the transaction, the insider owned 2,511 shares in the company, valued at C$258,633. This trade represents a 10.67% decrease in their ownership of the stock. Insiders have sold a total of 694 shares of company stock worth $71,496 in the last three months. 0.10% of the stock is owned by company insiders.

About Finning International

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.