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

Finning International Inc. (TSE:FTT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$92.49 and traded as high as C$107.68. Finning International shares last traded at C$104.61, with a volume of 359,429 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FTT shares. Raymond James Financial increased their target price on Finning International from C$100.00 to C$120.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce boosted their price target on shares of Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. National Bank Financial set a C$115.00 price objective on shares of Finning International and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Scotiabank increased their price objective on shares of Finning International from C$114.00 to C$118.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 7th. Finally, BMO Capital Markets increased their price objective on shares of Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$115.78.

Finning International Trading Down 2.2%

The company has a 50 day simple moving average of C$100.54 and a 200 day simple moving average of C$92.49. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61. The company has a market capitalization of C$13.66 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88.

Finning International (TSE:FTT) last announced its earnings results on Tuesday, May 12th. The company reported C$1.02 EPS for the quarter. The business had revenue of C$2.50 billion during the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%. Analysts anticipate that Finning International Inc. will post 4.244898 earnings per share for the current year.

Insider Buying and Selling at Finning International

In related news, insider Tim Arne Ferwerda sold 1,478 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total value of C$156,845.36. Following the completion of the transaction, the insider directly owned 16,016 shares of the company’s stock, valued at approximately C$1,699,617.92. This represents a 8.45% decrease in their position. Also, insider Gary Samuel Megarrell sold 300 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 2,511 shares in the company, valued at C$258,633. The trade was a 10.67% decrease in their position. Over the last three months, insiders sold 7,813 shares of company stock valued at $827,102. 0.10% of the stock is owned by corporate insiders.

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.