Scotiabank Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price objective lifted by analysts at Scotiabank from C$48.00 to C$55.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 10.44% from the stock’s previous close.

Several other research analysts have also recently issued reports on FTT. Raymond James lifted their target price on Finning International from C$50.00 to C$56.50 and gave the company an “outperform” rating in a research report on Thursday. CIBC cut their price objective on shares of Finning International from C$50.00 to C$49.00 in a report on Monday, February 3rd. BMO Capital Markets upped their target price on shares of Finning International from C$48.00 to C$52.00 in a research note on Thursday. TD Securities raised their price target on shares of Finning International from C$50.00 to C$57.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity Group upped their price objective on shares of Finning International from C$55.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Finning International has an average rating of “Moderate Buy” and a consensus price target of C$54.94.

Finning International Trading Up 0.2%

FTT opened at C$49.80 on Thursday. Finning International has a fifty-two week low of C$34.59 and a fifty-two week high of C$52.19. The firm 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. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59. The company’s 50-day moving average is C$41.19 and its 200 day moving average is C$40.01.

Insider Activity

In related news, Senior Officer Kevin Parkes sold 600 shares of Finning International stock in a transaction that occurred on 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 company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$51.00, for a total value of C$204,000.00. Insiders sold a total of 7,159 shares of company stock valued at $363,310 in the last ninety days. 0.10% of the stock is currently owned by insiders.

Finning International Company Profile

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.