Finning International (TSE:FTT) Given New C$48.00 Price Target at CIBC

Finning International (TSE:FTT) had its price target reduced by equities researchers at CIBC from C$50.00 to C$48.00 in a report issued on Thursday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 25.00% from the stock’s previous close.

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

Finning International Price Performance

Shares of Finning International stock traded up C$0.48 during midday trading on Thursday, reaching C$38.40. The company had a trading volume of 384,643 shares, compared to its average volume of 350,135. The stock has a fifty day simple moving average of C$41.37 and a 200 day simple moving average of C$40.84. The company has a market capitalization of C$5.36 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. Finning International has a 1-year low of C$34.04 and a 1-year high of C$45.17. The company has a current ratio of 1.55, a quick ratio of 0.59 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.