Finning International (TSE:FTT) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Finning International Inc. (TSE:FTT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$77.07 and traded as high as C$88.76. Finning International shares last traded at C$88.10, with a volume of 319,375 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on FTT shares. Royal Bank Of Canada lifted their price objective on Finning International from C$89.00 to C$104.00 in a research note on Thursday, February 12th. TD Securities increased their target price on Finning International from C$100.00 to C$104.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised their target price on Finning International from C$84.00 to C$102.00 in a report on Friday, February 6th. Scotiabank lifted their price target on Finning International from C$92.00 to C$105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Canaccord Genuity Group upped their price target on Finning International from C$90.00 to C$100.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$94.63.

Finning International Stock Up 1.1%

The company has a debt-to-equity ratio of 82.71, a quick ratio of 0.59 and a current ratio of 1.67. The company has a market capitalization of C$11.53 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 0.56 and a beta of 0.62. The firm’s 50-day simple moving average is C$88.52 and its 200-day simple moving average is C$77.07.

Finning International (TSE:FTT) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$1.02 EPS for the quarter. The business had revenue of C$2.77 billion during the quarter. Finning International had a net margin of 6.21% and a return on equity of 24.05%. Sell-side analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current 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.