Finning International (TSE:FTT) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Finning International Inc. (TSE:FTT)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$90.60 and traded as high as C$97.80. Finning International shares last traded at C$97.35, with a volume of 118,501 shares traded.

Analysts Set New Price Targets

FTT has been the subject of a number of research reports. BMO Capital Markets boosted their price objective on Finning International from C$96.00 to C$115.00 in a research note on Thursday, May 14th. National Bank Financial set a C$115.00 target price on shares of Finning International and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Raymond James Financial lifted their target price on shares of Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce upped their price target on shares of Finning International from C$100.00 to C$120.00 in a research report on Thursday, May 14th. Finally, TD raised their price objective on shares of 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. Eight analysts have 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$114.78.

Finning International Price Performance

The company has a 50-day moving average of C$99.93 and a 200-day moving average of C$90.60. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61. The stock has a market cap of C$12.71 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.56 and a beta of 0.88.

Finning International (TSE:FTT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 earnings per share for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.The company had revenue of C$2.50 billion during the quarter. As a group, equities research analysts predict that Finning International Inc. will post 4.244898 earnings per share for the current year.

Insider Buying and Selling at Finning International

In related news, insider Gary Samuel Megarrell sold 300 shares of Finning International stock in a transaction on 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 transaction, the insider directly owned 2,511 shares in the company, valued at C$258,633. This trade represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the completion of the transaction, the insider directly owned 16,016 shares in the company, valued at C$1,699,617.92. This represents a 8.45% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 7,813 shares of company stock valued at $827,102. Corporate insiders own 0.10% of the company’s stock.

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.