Finning International (TSE:FTT) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Finning International Inc. (TSE:FTT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$86.17 and traded as high as C$107.53. Finning International shares last traded at C$104.13, with a volume of 709,676 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FTT shares. Scotiabank raised their price target on shares of Finning International from C$105.00 to C$109.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada raised their price target on shares of Finning International from C$104.00 to C$130.00 in a research report on Friday, May 15th. National Bank Financial upgraded shares of Finning International from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$89.00 to C$115.00 in a research report on Thursday, May 14th. Raymond James Financial raised their price target on shares of Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, TD raised their price target on shares of Finning International from C$106.00 to C$115.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$114.22.

Finning International Price Performance

The company’s 50 day moving average price is C$94.41 and its 200-day moving average price is C$86.17. The company has a market cap of C$13.60 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 0.56 and a beta of 0.70. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61.

Finning International (TSE:FTT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$1.02 earnings per share (EPS) for the quarter. The company had revenue of C$2.50 billion for the quarter. Finning International had a net margin of 6.34% and a return on equity of 24.23%. On average, equities research analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gary Samuel Megarrell sold 300 shares of Finning International stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the transaction, the insider owned 2,511 shares of the company’s stock, valued at C$258,633. The trade was a 10.67% decrease in their position. Over the last 90 days, insiders have sold 694 shares of company stock valued at $71,496. Insiders own 0.10% of the company’s stock.

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.