Foraco International (TSE:FAR) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Foraco International SA (TSE:FAR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.44 and traded as high as C$3.00. Foraco International shares last traded at C$2.84, with a volume of 37,227 shares changing hands.

Analysts Set New Price Targets

Separately, Desjardins lifted their price target on shares of Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$4.50.

Foraco International Stock Performance

The stock has a fifty day simple moving average of C$2.89 and a two-hundred day simple moving average of C$2.44. The company has a debt-to-equity ratio of 99.57, a quick ratio of 0.88 and a current ratio of 1.36. The stock has a market capitalization of C$279.81 million, a price-to-earnings ratio of 18.21 and a beta of 0.72.

Foraco International (TSE:FAR) last posted its quarterly earnings results on Monday, March 2nd. The company reported C$0.03 EPS for the quarter. Foraco International had a net margin of 6.02% and a return on equity of 16.77%. The business had revenue of C$86.61 million during the quarter. Analysts forecast that Foraco International SA will post 0.5984655 earnings per share for the current fiscal year.

About Foraco International

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.