Canaccord Genuity Group Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price target raised by stock analysts at Canaccord Genuity Group from C$90.00 to C$100.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 11.58% from the company’s current price.

FTT has been the subject of several other research reports. Raymond James Financial upped their price objective on shares of Finning International from C$68.00 to C$85.00 in a research note on Thursday, November 13th. Canadian Imperial Bank of Commerce boosted their target price on Finning International from C$84.00 to C$102.00 in a report on Friday, February 6th. CIBC World Markets raised their price target on Finning International from C$84.00 to C$102.00 in a research note on Saturday. BMO Capital Markets lifted their price target on Finning International from C$76.00 to C$85.00 in a research report on Thursday, November 13th. Finally, TD Securities boosted their price objective on Finning International from C$88.00 to C$100.00 in a research note on Wednesday, February 4th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$88.67.

Finning International Price Performance

Finning International stock opened at C$89.62 on Monday. The stock has a market cap of C$11.77 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 0.56 and a beta of 0.80. The company has a fifty day simple moving average of C$79.87 and a 200-day simple moving average of C$70.35. Finning International has a 12-month low of C$34.59 and a 12-month high of C$90.84. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14.

Finning International (TSE:FTT) last posted its earnings results on Tuesday, February 10th. The company reported C$1.02 EPS for the quarter. The firm had revenue of C$2.77 billion for the quarter. Finning International had a return on equity of 19.69% and a net margin of 4.54%. Equities analysts expect that Finning International will post 4.244898 EPS for the current fiscal year.

Finning International Company Profile

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.