Finning International (TSE:FTT) Reaches New 1-Year High – Here’s Why

Finning International Inc. (TSE:FTT)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$79.05 and last traded at C$78.96, with a volume of 274498 shares. The stock had previously closed at C$76.26.

Analyst Ratings Changes

A number of analysts have commented on FTT shares. Raymond James Financial increased their price objective on shares of Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. CIBC upped their price target on Finning International from C$77.00 to C$84.00 in a research report on Thursday, November 13th. BMO Capital Markets lifted their price objective on Finning International from C$76.00 to C$85.00 in a research report on Thursday, November 13th. National Bankshares boosted their price objective on Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a research note on Monday, December 15th. Finally, Scotiabank raised their target price on Finning International from C$71.00 to C$85.00 in a research note on Thursday, November 13th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$78.25.

Finning International Stock Up 3.5%

The stock has a market capitalization of C$10.37 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.56 and a beta of 0.79. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59. The business has a fifty day moving average of C$74.43 and a 200 day moving average of C$66.04.

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.