New Flyer Industries (NFI) Shares Up -0.2% After Analyst Upgrade

New Flyer Industries Inc. (TSE:NFI) shares shot up 0.2% during mid-day trading on Monday after TD Securities raised their price target on the stock from C$61.00 to C$62.00. The company traded as high as C$49.48 and last traded at C$48.95. 300,116 shares were traded during mid-day trading, an increase of 96% from the average session volume of 153,453 shares. The stock had previously closed at C$49.07.

Other research analysts also recently issued reports about the company. Scotiabank boosted their price objective on New Flyer Industries from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday. CIBC boosted their price objective on New Flyer Industries from C$59.00 to C$60.00 in a research note on Monday. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$57.00 price objective on shares of New Flyer Industries in a research note on Friday, August 25th.

In related news, insider Wayne Ray Joseph sold 10,800 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of C$51.00, for a total value of C$550,800.00. Also, insider Paul Warren Dennis Smith sold 4,700 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of C$50.79, for a total value of C$238,713.00. Insiders sold a total of 40,800 shares of company stock valued at $2,082,046 over the last ninety days.

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New Flyer Industries Company Profile

New Flyer Industries Inc manufactures and sells transit buses and motor coaches in the United States and Canada. It operates through two segments, Transit Bus and Coach Manufacturing Operations, and Aftermarket Operations. The company also distributes parts with fabrication, manufacturing, distribution, and service centers.

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