Finning International (TSE:FTT) Reaches New 1-Year High – Here’s What Happened

Finning International Inc. (TSE:FTT) reached a new 52-week high on Monday . The stock traded as high as C$86.99 and last traded at C$84.28, with a volume of 42927 shares. The stock had previously closed at C$85.83.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FTT shares. Raymond James Financial boosted their price target on shares of Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. Scotiabank increased their price target on shares of Finning International from C$71.00 to C$85.00 in a research note on Thursday, November 13th. National Bankshares boosted their target price on Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a research report on Monday, December 15th. CIBC lifted their price target on shares of Finning International from C$77.00 to C$84.00 in a research note on Thursday, November 13th. Finally, TD Securities increased their target price on shares of Finning International from C$81.00 to C$88.00 in a report on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$78.25.

Finning International Stock Performance

The stock has a market capitalization of C$11.35 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.56 and a beta of 0.79. The company’s 50-day simple moving average is C$76.43 and its 200-day simple moving average is C$68.08. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14.

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.