Finning International (TSE:FTT) Hits New 1-Year High – Should You Buy?

Finning International Inc. (TSE:FTT)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$82.06 and last traded at C$81.99, with a volume of 197463 shares traded. The stock had previously closed at C$79.02.

Wall Street Analysts Forecast Growth

FTT has been the topic of several research analyst reports. CIBC upped their price objective on shares of Finning International from C$77.00 to C$84.00 in a research note on Thursday, November 13th. Raymond James Financial boosted their target price on Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. National Bankshares raised their price target on Finning International from C$66.00 to C$72.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. BMO Capital Markets lifted their price objective on Finning International from C$76.00 to C$85.00 in a research report on Thursday, November 13th. Finally, Scotiabank boosted their price objective on Finning International from C$71.00 to C$85.00 in a research note on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$78.25.

Finning International Price Performance

The stock has a market capitalization of C$10.89 billion, a P/E ratio of 16.35, a PEG ratio of 0.56 and a beta of 0.79. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14. The company has a fifty day simple moving average of C$74.88 and a two-hundred day simple moving average of C$66.76.

Finning International Company Profile

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.