CIBC Increases Finning International (TSE:FTT) Price Target to C$102.00

Finning International (TSE:FTT) had its price objective upped by stock analysts at CIBC from C$84.00 to C$102.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 14.81% from the stock’s previous close.

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

Finning International Price Performance

Shares of TSE FTT traded up C$2.51 during midday trading on Friday, reaching C$88.84. The stock had a trading volume of 163,126 shares, compared to its average volume of 416,032. The company has a market capitalization of C$11.67 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.56 and a beta of 0.80. Finning International has a 12-month low of C$34.59 and a 12-month high of C$89.85. The stock has a 50-day moving average of C$78.92 and a 200-day moving average of C$69.65. The company has a debt-to-equity ratio of 98.14, a quick ratio of 0.59 and a current ratio of 1.65.

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.