Finning International (TSE:FTT) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Finning International Inc. (TSE:FTT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$94.65 and traded as high as C$100.98. Finning International shares last traded at C$99.75, with a volume of 627,081 shares trading hands.

Analyst Upgrades and Downgrades

FTT has been the subject of several research reports. Scotiabank lifted their price target on Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 7th. TD increased their price objective on Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada lifted their target price on Finning International from C$104.00 to C$130.00 in a report on Friday, May 15th. BMO Capital Markets boosted their target price on shares of Finning International from C$96.00 to C$115.00 in a research report on Thursday, May 14th. Finally, Raymond James Financial upped their price target on shares of Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$115.78.

Finning International Trading Down 3.3%

The firm has a market capitalization of C$12.47 billion, a P/E ratio of 18.76, a PEG ratio of 0.56 and a beta of 0.86. The company has a quick ratio of 0.59, a current ratio of 1.61 and a debt-to-equity ratio of 88.08. The firm has a 50 day moving average of C$100.54 and a 200-day moving average of C$94.76.

Finning International (TSE:FTT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$1.22 EPS for the quarter. The firm had revenue of C$3.13 billion for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. On average, equities research analysts predict that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

Insider Buying and Selling at Finning International

In related news, insider Tim Arne Ferwerda sold 1,478 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total value of C$156,845.36. Following the transaction, the insider owned 16,016 shares in the company, valued at approximately C$1,699,617.92. This trade represents a 8.45% decrease in their ownership of the stock. Also, insider Gary Samuel Megarrell sold 300 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the completion of the transaction, the insider directly owned 2,511 shares of the company’s stock, valued at approximately C$258,633. This trade represents a 10.67% decrease in their position. Over the last three months, insiders have sold 7,813 shares of company stock worth $827,102. 0.10% of the stock is currently owned by insiders.

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.