Scotiabank Forecasts Strong Price Appreciation for NFI Group (TSE:NFI) Stock

NFI Group (TSE:NFI) had its target price raised by equities research analysts at Scotiabank from C$21.00 to C$22.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 29.87% from the stock’s current price.

Several other research analysts have also weighed in on the stock. TD Securities upgraded shares of NFI Group to a “strong-buy” rating in a research note on Friday, January 30th. BMO Capital Markets decreased their target price on shares of NFI Group from C$18.00 to C$17.00 in a research note on Monday, December 8th. ATB Cormark Capital Markets boosted their price target on shares of NFI Group from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Friday. Finally, National Bank Financial dropped their price target on shares of NFI Group from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$22.43.

NFI Group Price Performance

TSE NFI opened at C$16.94 on Friday. The company has a 50 day simple moving average of C$17.00 and a 200-day simple moving average of C$15.84. The company has a debt-to-equity ratio of 220.13, a current ratio of 1.47 and a quick ratio of 0.55. The firm has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -6.95, a price-to-earnings-growth ratio of -0.07 and a beta of 0.22. NFI Group has a 52-week low of C$9.83 and a 52-week high of C$19.90.

Insider Buying and Selling

In other news, Director Colin Robertson acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of C$15.97 per share, for a total transaction of C$159,700.00. Following the completion of the acquisition, the director owned 56,217 shares of the company’s stock, valued at approximately C$897,785.49. This represents a 21.64% increase in their position. Also, insider Brian Keith Dewsnup acquired 4,100 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The shares were acquired at an average cost of C$16.14 per share, for a total transaction of C$66,174.00. Following the transaction, the insider owned 69,010 shares of the company’s stock, valued at approximately C$1,113,821.40. This represents a 6.32% increase in their position. Insiders purchased 15,640 shares of company stock worth $250,305 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

NFI Group Company Profile

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With over 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts¿.