Foraco International (TSE:FAR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Foraco International SA (TSE:FAR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.48 and traded as high as C$2.60. Foraco International shares last traded at C$2.53, with a volume of 46,550 shares.

Analyst Ratings Changes

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

Foraco International Stock Up 3.2%

The company’s fifty day simple moving average is C$2.92 and its 200-day simple moving average is C$2.48. The firm has a market capitalization of C$255.88 million, a PE ratio of 16.73 and a beta of 0.72. The company has a debt-to-equity ratio of 99.57, a current ratio of 1.36 and a quick ratio of 0.88.

Foraco International (TSE:FAR) last issued its quarterly earnings data on Monday, March 2nd. The company reported C$0.03 EPS for the quarter. The firm had revenue of C$86.61 million during the quarter. Foraco International had a return on equity of 16.77% and a net margin of 6.02%. On average, analysts forecast that Foraco International SA will post 0.5984655 EPS for the current year.

Insider Buying and Selling

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

About Foraco International

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.