CIBC Has Lowered Expectations for Finning International (TSE:FTT) Stock Price

Finning International (TSE:FTT) had its price target lowered by CIBC from C$50.00 to C$48.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 25.20% from the company’s previous close.

Several other equities research analysts have also recently weighed in on FTT. Raymond James dropped their target price on Finning International from C$52.00 to C$50.00 in a report on Thursday. Royal Bank of Canada lowered their price objective on Finning International from C$50.00 to C$46.00 in a research report on Thursday. Scotiabank set a C$51.00 target price on shares of Finning International and gave the stock an “outperform” rating in a report on Wednesday, August 21st. TD Securities upgraded shares of Finning International from a “hold” rating to a “buy” rating and upped their price target for the company from C$43.00 to C$45.00 in a report on Friday, August 9th. Finally, BMO Capital Markets raised their price target on shares of Finning International from C$48.00 to C$50.00 in a report on Thursday, August 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$48.00.

Finning International Stock Performance

TSE FTT opened at C$38.34 on Thursday. The company has a 50-day simple moving average of C$41.30 and a two-hundred day simple moving average of C$40.80. Finning International has a 12-month low of C$34.04 and a 12-month high of C$45.17. The firm has a market cap of C$5.35 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.56 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71.

About Finning International

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.