Finning International (TSE:FTT) Reaches New 52-Week High – Time to Buy?

Finning International Inc. (TSE:FTT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$103.33 and last traded at C$102.76, with a volume of 157804 shares. The stock had previously closed at C$96.57.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FTT. Raymond James Financial increased their price target on Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a research report on Thursday. Canadian Imperial Bank of Commerce upped their target price on shares of Finning International from C$100.00 to C$120.00 in a research note on Thursday. National Bank Financial upgraded shares of Finning International from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$89.00 to C$115.00 in a report on Thursday. Royal Bank Of Canada raised their price target on shares of Finning International from C$89.00 to C$104.00 in a research report on Thursday, February 12th. Finally, Scotiabank boosted their price target on shares of Finning International from C$105.00 to C$109.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Finning International presently has an average rating of “Buy” and a consensus target price of C$110.33.

Finning International Stock Performance

The company has a 50-day simple moving average of C$91.88 and a two-hundred day simple moving average of C$84.08. The company has a quick ratio of 0.59, a current ratio of 1.67 and a debt-to-equity ratio of 82.71. The firm has a market cap of C$13.47 billion, a PE ratio of 20.27, a PEG ratio of 0.56 and a beta of 0.70.

Finning International (TSE:FTT) last announced its earnings results on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. The firm had revenue of C$2.50 billion during the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%. As a group, equities research analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current year.

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.