Finning International (TSE:FTT) Share Price Passes Above 200 Day Moving Average – Here’s Why

Finning International Inc. (TSE:FTT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$67.79 and traded as high as C$86.57. Finning International shares last traded at C$85.43, with a volume of 251,671 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. CIBC upped their price objective on Finning International from C$77.00 to C$84.00 in a research note on Thursday, November 13th. BMO Capital Markets increased their price target on shares of Finning International from C$76.00 to C$85.00 in a research report on Thursday, November 13th. Scotiabank lifted their price objective on shares of Finning International from C$71.00 to C$85.00 in a research report on Thursday, November 13th. Raymond James Financial increased their target price on shares of Finning International from C$68.00 to C$85.00 in a research report on Thursday, November 13th. Finally, TD Securities raised their price target on shares of Finning International from C$81.00 to C$88.00 in a research note on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Finning International presently has a consensus rating of “Moderate Buy” and a consensus target price of C$78.25.

Finning International Stock Performance

The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59. The firm has a market capitalization of C$11.22 billion, a PE ratio of 16.85, a P/E/G ratio of 0.56 and a beta of 0.79. The company’s fifty day simple moving average is C$76.19 and its 200 day simple moving average is C$67.79.

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.