Finning International (TSE:FTT) Shares Up 9.5% – Here’s What Happened

Finning International Inc. (TSE:FTT)’s share price rose 9.5% during mid-day trading on Wednesday . The company traded as high as C$40.17 and last traded at C$40.02. Approximately 177,112 shares were traded during trading, a decline of 56% from the average daily volume of 402,838 shares. The stock had previously closed at C$36.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lowered their price objective on shares of Finning International from C$53.00 to C$51.00 in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price target on Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. Raymond James reduced their price objective on Finning International from C$52.00 to C$50.00 in a research note on Thursday, November 14th. Canaccord Genuity Group increased their price target on shares of Finning International from C$51.00 to C$55.00 in a report on Friday. Finally, CIBC reduced their price target on shares of Finning International from C$50.00 to C$49.00 in a research report on Monday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$49.33.

Finning International Stock Performance

The company has a current ratio of 1.55, a quick ratio of 0.59 and a debt-to-equity ratio of 113.71. The firm’s fifty day moving average price is C$37.97 and its two-hundred day moving average price is C$39.43. The stock has a market capitalization of C$5.96 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55.

Finning International (TSE:FTT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C$0.93 earnings per share 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 last year, the company posted $1.07 earnings per share. As a group, equities research analysts forecast that Finning International Inc. will post 4.244898 EPS for the current year.

Insider Buying and Selling at Finning International

In other news, Senior Officer Kieran Colquhoun Holm sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of C$42.10, for a total value of C$126,300.00. 0.10% of the stock is owned by corporate 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.