Finning International (TSE:FTT) Hits New 12-Month High After Analyst Upgrade

Finning International Inc. (TSE:FTT) shares reached a new 52-week high during trading on Friday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$84.00 to C$102.00. The company traded as high as C$89.60 and last traded at C$88.58, with a volume of 191386 shares trading hands. The stock had previously closed at C$86.33.

Other equities analysts have also issued reports about the company. BMO Capital Markets increased their price objective on Finning International from C$76.00 to C$85.00 in a research report on Thursday, November 13th. Raymond James Financial lifted their price target on shares of Finning International from C$68.00 to C$85.00 in a research note on Thursday, November 13th. TD Securities upped their price objective on shares of Finning International from C$88.00 to C$100.00 in a research note on Wednesday. Scotiabank increased their target price on shares of Finning International from C$71.00 to C$85.00 in a report on Thursday, November 13th. Finally, National Bankshares boosted their price target on shares of Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a research note on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Finning International has a consensus rating of “Moderate Buy” and an average price target of C$82.00.

Finning International Trading Up 3.0%

The stock has a market capitalization of C$11.68 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.56 and a beta of 0.80. The firm’s 50 day moving average price is C$79.21 and its 200 day moving average price is C$69.84. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59.

Finning International Company Profile

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.