Finning International (TSE:FTT) Shares Cross Above 200-Day Moving Average – Here’s Why

Finning International Inc. (TSE:FTT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$78.12 and traded as high as C$87.89. Finning International shares last traded at C$86.16, with a volume of 189,519 shares changing hands.

Analysts Set New Price Targets

FTT has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Finning International from C$90.00 to C$100.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. National Bank Financial lifted their target price on shares of Finning International from C$66.00 to C$72.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Scotiabank increased their price target on shares of Finning International from C$92.00 to C$105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised their price objective on shares of Finning International from C$84.00 to C$102.00 in a research report on Friday, February 6th. Finally, Royal Bank Of Canada lifted their price objective on Finning International from C$89.00 to C$104.00 in a report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Finning International currently has an average rating of “Moderate Buy” and a consensus price target of C$94.63.

Finning International Price Performance

The stock has a fifty day moving average of C$88.65 and a two-hundred day moving average of C$78.12. The stock has a market cap of C$11.27 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.56 and a beta of 0.62. The company has a quick ratio of 0.59, a current ratio of 1.67 and a debt-to-equity ratio of 82.71.

Finning International (TSE:FTT) last released its earnings results on Tuesday, February 10th. The company reported C$1.02 EPS for the quarter. The company had revenue of C$2.77 billion during the quarter. Finning International had a return on equity of 24.05% and a net margin of 6.21%. On average, equities research analysts anticipate 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.