Finning International (TSE:FTT) Reaches New 12-Month High on Analyst Upgrade

Finning International Inc. (TSE:FTT)’s share price reached a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$68.00 to C$77.00. CIBC currently has an outperform rating on the stock. Finning International traded as high as C$71.13 and last traded at C$70.87, with a volume of 345293 shares traded. The stock had previously closed at C$69.26.

Several other research firms have also weighed in on FTT. Scotiabank lifted their price objective on Finning International from C$64.00 to C$71.00 in a research note on Friday, October 17th. Raymond James Financial lifted their price objective on Finning International from C$56.00 to C$68.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. TD Securities lifted their price objective on Finning International from C$69.00 to C$81.00 in a research note on Friday, October 17th. Royal Bank Of Canada lifted their price objective on Finning International from C$61.00 to C$67.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets lifted their price objective on Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Finning International has an average rating of “Moderate Buy” and a consensus target price of C$66.00.

Finning International Stock Performance

The stock has a 50-day simple moving average of C$61.74 and a 200-day simple moving average of C$54.77. The company has a market capitalization of C$9.47 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14.

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.