CIBC Lowers Finning International (TSE:FTT) Price Target to C$49.00

Finning International (TSE:FTT - Get Free Report) had its target price reduced by research analysts at CIBC from C$50.00 to C$49.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC's target price would indicate a potential upside of 15.16% from the company's previous close.

Several other brokerages also recently issued reports on FTT. BMO Capital Markets reduced their price target on shares of Finning International from C$50.00 to C$46.00 in a research report on Thursday, November 14th. Royal Bank of Canada decreased their price target on shares of Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. Raymond James dropped their price objective on shares of Finning International from C$52.00 to C$50.00 in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group decreased their price objective on Finning International from C$53.00 to C$51.00 in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$48.13.

Finning International Price Performance

Finning International stock traded up C$1.39 during mid-day trading on Monday, hitting C$42.55. 963,014 shares of the company were exchanged, compared to its average volume of 458,015. The company has a market capitalization of C$5.93 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The business has a fifty day moving average of C$37.87 and a 200 day moving average of C$39.41. Finning International has a 1-year low of C$34.28 and a 1-year high of C$45.17. 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 (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 the consensus estimate of C$1.03 by C($0.10). Finning International had a net margin of 4.65% and a return on equity of 20.14%. During the same quarter in the prior year, the company earned $1.07 EPS. As a group, sell-side analysts expect that Finning International will post 4.244898 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Kieran Colquhoun Holm sold 3,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of C$42.10, for a total transaction of C$126,300.00. 0.10% of the stock is currently owned by company insiders.

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.