Finning International Inc. (FTT) Price Target Raised to C$31.00 at CIBC
Finning International Inc. (TSE:FTT) had its price target upped by equities researchers at CIBC from C$29.00 to C$31.00 in a research note issued on Tuesday. CIBC’s price objective suggests a potential downside of 1.15% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. TD Securities upped their price target on shares of Finning International from C$29.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Scotiabank restated an “outperform” rating and set a C$32.00 price target on shares of Finning International in a research report on Saturday, September 23rd. Finally, Canaccord Genuity upped their price target on shares of Finning International from C$33.00 to C$36.00 in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$31.25.
Shares of Finning International (FTT) traded up 3.26% during mid-day trading on Tuesday, hitting $31.36. 977,355 shares of the stock traded hands. The firm’s 50 day moving average price is $28.71 and its 200-day moving average price is $26.62. The stock has a market cap of $5.27 billion and a P/E ratio of 36.05. Finning International has a 12-month low of $23.54 and a 12-month high of $31.77.
In related news, insider David William Cummings bought 9,500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average price of C$28.50 per share, for a total transaction of C$270,750.00. Also, insider Cristian Chavez sold 3,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of C$27.90, for a total transaction of C$83,700.00.
Finning International Company Profile
Finning International Inc is engaged in the selling, servicing and renting of heavy equipment, engines, and related products in various markets worldwide. Its segments include its Canadian operations, which include British Columbia, Alberta, Saskatchewan, Yukon, the Northwest Territories, and a portion of Nunavut; South American operations, which include Chile, Argentina, Bolivia, and Uruguay, the United Kingdom and Ireland operations, which include England, Scotland, Wales, Northern Ireland and the Republic of Ireland.
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