CIBC Increases Finning International (TSE:FTT) Price Target to C$50.00

Finning International (TSE:FTT) had its price objective boosted by research analysts at CIBC from C$49.00 to C$50.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 15.66% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. TD Securities raised shares of Finning International from a “hold” rating to a “buy” rating and raised their target price for the company from C$43.00 to C$45.00 in a research report on Friday, August 9th. Scotiabank set a C$51.00 price objective on shares of Finning International and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada lifted their price objective on shares of Finning International from C$49.00 to C$50.00 in a research report on Thursday, August 8th. Finally, BMO Capital Markets lifted their target price on shares of Finning International from C$48.00 to C$50.00 in a report on Thursday, August 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$48.83.

Finning International Trading Down 0.8 %

Shares of TSE:FTT opened at C$43.23 on Wednesday. Finning International has a 12 month low of C$33.77 and a 12 month high of C$45.17. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71. The company’s fifty day simple moving average is C$40.39 and its 200 day simple moving average is C$40.82. The firm has a market cap of C$6.03 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.56 and a beta of 1.55.

Finning International (TSE:FTT) last released its earnings results on Tuesday, August 6th. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.98 by C$0.04. The business had revenue of C$2.65 billion during the quarter, compared to the consensus estimate of C$2.57 billion. Finning International had a net margin of 4.65% and a return on equity of 20.14%. As a group, research analysts forecast that Finning International will post 4.244898 EPS for the current fiscal year.

Insiders Place Their Bets

In other Finning International news, Senior Officer Kevin Parkes acquired 2,777 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of C$36.39 per share, for a total transaction of C$101,055.03. Corporate insiders own 0.10% of the company’s stock.

Finning International Company Profile

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.