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

Finning International Inc. (TSE:FTT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$88.74 and traded as high as C$103.00. Finning International shares last traded at C$97.67, with a volume of 617,510 shares.

Analysts Set New Price Targets

FTT has been the subject of a number of analyst reports. TD upped their price target on Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Canadian Imperial Bank of Commerce upped their price target on Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. BMO Capital Markets upped their price target on Finning International from C$96.00 to C$115.00 in a report on Thursday, May 14th. National Bank Financial raised Finning International from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$89.00 to C$115.00 in a report on Thursday, May 14th. Finally, Scotiabank upped their price target on Finning International from C$105.00 to C$109.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$114.78.

Finning International Stock Down 3.8%

The business has a fifty day simple moving average of C$98.47 and a 200 day simple moving average of C$88.74. The firm has a market cap of C$12.75 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 0.56 and a beta of 0.88. The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59.

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

Insider Buying and Selling

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