Foraco International (TSE:FAR) Stock Passes Above 200-Day Moving Average – What’s Next?

Foraco International SA (TSE:FAR) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.48 and traded as high as C$2.60. Foraco International shares last traded at C$2.53, with a volume of 46,550 shares.

Analyst Ratings Changes

Separately, Desjardins increased their target price on shares of Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$4.50.

Foraco International Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 99.57. The company has a fifty day moving average price of C$2.92 and a 200 day moving average price of C$2.48. The stock has a market cap of C$248.57 million, a PE ratio of 16.22 and a beta of 0.72.

Foraco International (TSE:FAR) last issued its earnings results on Monday, March 2nd. The company reported C$0.03 earnings per share for the quarter. Foraco International had a return on equity of 16.77% and a net margin of 6.02%.The company had revenue of C$86.61 million during the quarter. Analysts expect that Foraco International SA will post 0.5984655 earnings per share for the current year.

Insider Buying and Selling at Foraco International

In related news, Director William Warren Holmes acquired 17,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was purchased at an average price of C$2.84 per share, with a total value of C$48,280.00. Following the completion of the purchase, the director owned 450,001 shares in the company, valued at C$1,278,002.84. This trade represents a 3.93% increase in their position. Company insiders own 35.74% of the company’s stock.

Foraco International Company Profile

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.