Finning International (TSE:FTT) Stock Price Down 8.7% – What’s Next?

Finning International Inc. (TSE:FTT) fell 8.7% during mid-day trading on Monday . The stock traded as low as C$95.59 and last traded at C$98.48. Approximately 306,473 shares were traded during trading, a decline of 31% from the average session volume of 442,917 shares. The stock had previously closed at C$107.90.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FTT. Scotiabank lifted their target price on Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 7th. BMO Capital Markets upped their price target on Finning International from C$96.00 to C$115.00 in a research report on Thursday, May 14th. Royal Bank Of Canada raised their price objective on Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. Finally, TD boosted their target price on shares of Finning International from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note 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 price target of C$115.78.

Finning International Trading Down 3.2%

The stock has a market cap of C$12.61 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88. The firm’s 50 day moving average is C$101.23 and its two-hundred day moving average is C$94.13. The company has a quick ratio of 0.59, a current ratio of 1.61 and a debt-to-equity ratio of 88.08.

Finning International (TSE:FTT) last issued its earnings results on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. The firm had revenue of C$2.50 billion for the quarter. Equities analysts anticipate that Finning International Inc. will post 4.244898 EPS for the current year.

Insider Buying and Selling

In related news, insider Gary Samuel Megarrell sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total value of C$30,900.00. Following the sale, the insider 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. Also, insider Tim Arne Ferwerda sold 1,478 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company’s stock, valued at C$1,699,617.92. This represents a 8.45% decrease in their position. Insiders have sold a total of 7,813 shares of company stock worth $827,102 over the last quarter. Insiders own 0.10% of the company’s stock.

About Finning International

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.