Scotiabank Cuts NFI Group (TSE:NFI) Price Target to C$18.00

NFI Group (TSE:NFIGet Rating) had its price objective dropped by stock analysts at Scotiabank from C$22.00 to C$18.00 in a report released on Monday, BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 59.43% from the company’s previous close.

A number of other research firms have also issued reports on NFI. BMO Capital Markets lowered shares of NFI Group from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$21.00 to C$15.50 in a research report on Tuesday, April 26th. ATB Capital cut their price objective on shares of NFI Group from C$35.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. CIBC cut their price objective on shares of NFI Group from C$18.00 to C$12.00 and set a “neutral” rating on the stock in a research report on Monday. TD Securities cut their price objective on shares of NFI Group from C$18.00 to C$13.50 and set a “hold” rating on the stock in a research report on Monday. Finally, Atb Cap Markets lowered shares of NFI Group from an “outperform” rating to a “speculative” rating in a research report on Thursday, March 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NFI Group presently has a consensus rating of “Hold” and a consensus target price of C$15.83.

Shares of NFI traded down C$0.50 during midday trading on Monday, hitting C$11.29. The stock had a trading volume of 565,973 shares, compared to its average volume of 432,824. NFI Group has a fifty-two week low of C$10.39 and a fifty-two week high of C$31.80. The business has a 50-day simple moving average of C$15.99 and a two-hundred day simple moving average of C$19.27. The firm has a market cap of C$870.81 million and a P/E ratio of -42.60. The company has a current ratio of 1.77, a quick ratio of 0.82 and a debt-to-equity ratio of 113.15.

NFI Group (TSE:NFIGet Rating) last announced its earnings results on Thursday, March 10th. The company reported C($0.26) EPS for the quarter, missing the consensus estimate of C($0.14) by C($0.12). The business had revenue of C$871.16 million for the quarter, compared to the consensus estimate of C$757.22 million. On average, analysts expect that NFI Group will post 1.0300001 earnings per share for the current fiscal year.

In related news, Director Larry Dean Edwards acquired 5,180 shares of the stock in a transaction dated Monday, March 14th. The shares were acquired at an average price of C$13.91 per share, for a total transaction of C$72,072.45. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately C$208,704. Also, Director Adam L. Gray purchased 547,000 shares of the firm’s stock in a transaction on Friday, March 18th. The shares were acquired at an average price of C$16.01 per share, for a total transaction of C$8,757,470.00. Following the purchase, the director now directly owns 8,537,387 shares of the company’s stock, valued at C$136,683,565.87. In the last 90 days, insiders bought 982,580 shares of company stock worth $15,485,854.

NFI Group Company Profile (Get Rating)

NFI Group Inc, together with its subsidiaries, manufactures and sells buses in North America, the United Kingdom, Europe, the Asia Pacific, and internationally. It operates through two segments, Manufacturing Operations and Aftermarket Operations. The company offers heavy-duty transit buses under the New Flyer name; single and double-deck buses under the Alexander Dennis Limited brand name; motor coaches under Plaxton and MCI brand names; low-floor cutaway and medium-duty buses under the ARBOC brand; and aftermarket parts under the NFI Parts brand name, as well as articulated buses.

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