Finning International (TSE:FTT) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Finning International (TSE:FTT) had its price target hoisted by Royal Bank of Canada from C$49.00 to C$61.00 in a report released on Thursday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 22.49% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on FTT. Canaccord Genuity Group upped their target price on Finning International from C$55.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday. Scotiabank raised their target price on shares of Finning International from C$48.00 to C$55.00 and gave the company an “outperform” rating in a research note on Thursday. Raymond James lifted their target price on shares of Finning International from C$50.00 to C$56.50 and gave the stock an “outperform” rating in a report on Thursday. BMO Capital Markets boosted their target price on shares of Finning International from C$48.00 to C$52.00 in a research report on Thursday. Finally, CIBC decreased their price target on shares of Finning International from C$50.00 to C$49.00 in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$54.94.

Finning International Trading Up 0.2%

Shares of TSE:FTT opened at C$49.80 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14. The stock has a market capitalization of C$6.84 billion, a PE ratio of 13.93, a P/E/G ratio of 0.56 and a beta of 1.55. Finning International has a 1 year low of C$34.59 and a 1 year high of C$52.19. The firm has a fifty day moving average price of C$41.19 and a 200 day moving average price of C$40.01.

Insider Activity

In other news, Senior Officer Kevin Parkes sold 600 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of C$51.42, for a total value of C$30,852.00. Also, Senior Officer Kieran Colquhoun Holm sold 4,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$51.00, for a total transaction of C$204,000.00. Over the last ninety days, insiders have sold 7,159 shares of company stock worth $363,310. Company insiders own 0.10% of the company’s stock.

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.