Canaccord Genuity Group Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price objective upped by equities researchers at Canaccord Genuity Group from C$51.00 to C$55.00 in a research note issued on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price indicates a potential upside of 29.26% from the company’s previous close.

FTT has been the topic of a number of other research reports. Royal Bank of Canada lowered their target price on Finning International from C$50.00 to C$46.00 in a research report on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on shares of Finning International from C$53.00 to C$51.00 in a research note on Thursday, November 14th. BMO Capital Markets cut their target price on shares of Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. Raymond James lowered their price target on Finning International from C$52.00 to C$50.00 in a research report on Thursday, November 14th. Finally, CIBC dropped their price target on Finning International from C$50.00 to C$49.00 in a research note on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$49.33.

Finning International Trading Up 3.4 %

TSE:FTT opened at C$42.55 on Friday. The company has a market cap of C$5.93 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. Finning International has a twelve month low of C$34.28 and a twelve month high of C$45.17. The business has a 50 day moving average price of C$37.97 and a two-hundred day moving average price of C$39.43. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71.

Finning International (TSE:FTT) last announced its earnings results on Tuesday, November 12th. The company reported C$0.93 EPS for the quarter, missing the consensus estimate of C$1.03 by C($0.10). Finning International had a return on equity of 20.14% and a net margin of 4.65%. During the same quarter last year, the firm posted $1.07 EPS. As a group, analysts expect that Finning International will post 4.244898 EPS for the current fiscal year.

Insider Activity at Finning International

In other news, Senior Officer Kieran Colquhoun Holm sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of C$42.10, for a total transaction of C$126,300.00. 0.10% of the stock is currently owned by corporate insiders.

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.