Finning International (TSE:FTT) Sets New 52-Week High – Still a Buy?

Shares of Finning International Inc. (TSE:FTT) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$108.33 and last traded at C$108.70, with a volume of 104495 shares traded. The stock had previously closed at C$108.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FTT shares. Scotiabank increased 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. Stifel Nicolaus set a C$127.00 target price on shares of Finning International and gave the stock a “buy” rating in a report on Wednesday. TD upped their target price on Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. National Bank Financial boosted their price objective on Finning International from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, BMO Capital Markets increased their target price on Finning International from C$118.00 to C$122.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$117.80.

Finning International Trading Up 0.8%

The business has a 50-day moving average of C$95.82 and a 200 day moving average of C$96.66. The company has a debt-to-equity ratio of 86.86, a quick ratio of 0.59 and a current ratio of 1.47. The stock has a market cap of C$14.30 billion, a PE ratio of 26.23, a PEG ratio of 0.56 and a beta of 0.78.

Finning International (TSE:FTT) last issued its earnings results on Wednesday, August 5th. The company reported C$1.22 earnings per share (EPS) for the quarter. Finning International had a return on equity of 19.22% and a net margin of 4.93%.The business had revenue of C$3.13 billion during the quarter. Equities research analysts predict that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

About Finning International

Finning is the world’s largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers’ toughest challenges.