Canaccord Genuity Group Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT - Get Free Report) had its price target boosted by research analysts at Canaccord Genuity Group from C$51.00 to C$55.00 in a research note issued to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group's price target points to a potential upside of 29.08% from the company's previous close.

A number of other brokerages also recently issued reports on FTT. BMO Capital Markets lowered their price objective on Finning International from C$50.00 to C$46.00 in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price target on Finning International from C$50.00 to C$46.00 in a report on Thursday, November 14th. Raymond James lowered their target price on shares of Finning International from C$52.00 to C$50.00 in a research note on Thursday, November 14th. CIBC lowered their target price on shares of Finning International from C$50.00 to C$49.00 in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group lowered their price objective on shares of Finning International from C$53.00 to C$51.00 in a research report on Thursday, November 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$49.33.

Finning International Price Performance

FTT traded up C$0.06 during trading on Friday, reaching C$42.61. 592,034 shares of the company were exchanged, compared to its average volume of 472,853. The company's 50-day moving average is C$38.07 and its two-hundred day moving average is C$39.44. The company has a market cap of C$5.94 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.56 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71. Finning International has a 12-month low of C$34.28 and a 12-month high of C$45.17.

Finning International (TSE:FTT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.03 by C($0.10). Finning International had a return on equity of 20.14% and a net margin of 4.65%. During the same quarter in the previous year, the company earned $1.07 earnings per share. Research analysts forecast that Finning International will post 4.244898 earnings per share for the current fiscal year.

Insider Activity

In other Finning International news, Senior Officer Kieran Colquhoun Holm sold 3,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of C$42.10, for a total transaction of C$126,300.00. Insiders own 0.10% of the company's stock.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.