Foraco International (TSE:FAR) Shares Up 8.5% – Still a Buy?

Shares of Foraco International SA (TSE:FAR) shot up 8.5% during mid-day trading on Friday . The stock traded as high as C$3.33 and last traded at C$3.33. 356,595 shares changed hands during trading, an increase of 70% from the average session volume of 210,013 shares. The stock had previously closed at C$3.07.

Analysts Set New Price Targets

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

Foraco International Stock Performance

The stock has a market capitalization of C$318.62 million, a P/E ratio of 22.09 and a beta of 1.09. The stock has a 50 day moving average of C$2.86 and a 200 day moving average of C$2.65. The company has a debt-to-equity ratio of 107.63, a quick ratio of 0.88 and a current ratio of 1.24.

Foraco International (TSE:FAR) last released its quarterly earnings results on Thursday, April 30th. The company reported C$0.01 EPS for the quarter. The business had revenue of C$92.11 million during the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. Equities analysts predict that Foraco International SA will post 0.5984655 EPS for the current year.

Insider Activity at Foraco International

In other Foraco International news, Director William Warren Holmes purchased 17,000 shares of the stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of C$2.84 per share, with a total value of C$48,280.00. Following the completion of the acquisition, the director owned 450,001 shares of the company’s stock, valued at approximately C$1,278,002.84. This trade represents a 3.93% increase in their ownership of the stock. Company insiders own 35.74% of the company’s stock.

Foraco International Company Profile

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.