Finning International (TSE:FTT) Given New C$27.00 Price Target at CIBC

Finning International (TSE:FTT) had its price target lowered by CIBC from C$29.00 to C$27.00 in a research note issued to investors on Thursday, BayStreet.CA reports.

Several other analysts have also issued reports on the company. Raymond James reissued a market perform rating and set a C$24.00 target price on shares of Finning International in a report on Thursday. Royal Bank of Canada reduced their target price on Finning International from C$32.00 to C$30.00 and set an outperform rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity increased their target price on Finning International from C$27.00 to C$28.00 in a report on Monday, January 13th. Finally, National Bank Financial reduced their target price on Finning International from C$29.00 to C$28.00 and set an outperform rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of C$26.13.

Shares of FTT traded down C$0.05 during trading hours on Thursday, hitting C$21.37. 510,250 shares of the company were exchanged, compared to its average volume of 256,685. The company has a market cap of $3.47 billion and a price-to-earnings ratio of 14.24. Finning International has a fifty-two week low of C$21.17 and a fifty-two week high of C$26.49. The company has a quick ratio of 0.64, a current ratio of 1.70 and a debt-to-equity ratio of 108.85. The firm’s fifty day moving average is C$24.32 and its 200 day moving average is C$23.48.

In related news, Senior Officer Marchello Marchese sold 2,266 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$25.31, for a total value of C$57,363.56. Following the sale, the insider now directly owns 36,575 shares of the company’s stock, valued at C$925,892.47. Also, Senior Officer David Francis Neil Primrose sold 2,454 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$24.78, for a total value of C$60,798.59. Following the completion of the sale, the insider now directly owns 27,144 shares in the company, valued at C$672,500.74. Insiders sold 5,841 shares of company stock worth $145,284 over the last ninety days.

Finning International Company Profile

Finning International Inc engages in selling, servicing, and renting heavy equipment, engines, and related products in Canada, South America, the United Kingdom, and Ireland. It serves various industries, including mining, construction, agriculture, governmental, paving, and forestry, as well as various power system applications.

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Analyst Recommendations for Finning International (TSE:FTT)

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