Finning International (TSE:FTT) Price Target Cut to C$27.00

Finning International (TSE:FTT) had its price target reduced by CIBC from C$34.00 to C$27.00 in a report published on Tuesday, BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. Raymond James restated an average rating and set a $4.50 price target on shares of John Hancock Financial Opprts Fund in a research report on Thursday, May 9th. Canaccord Genuity restated a hold rating and set a $20.00 price target (down from $29.00) on shares of Sailpoint Technologies in a research report on Thursday, May 9th. Finally, TD Securities cut Tricon Capital Group from an action list buy rating to a buy rating and lowered their price objective for the company from C$14.50 to C$13.50 in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of C$29.86.

TSE FTT opened at C$23.18 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 109.98. Finning International has a twelve month low of C$21.36 and a twelve month high of C$35.00. The company has a market capitalization of $3.78 billion and a price-to-earnings ratio of 20.46. The company’s 50 day moving average price is C$22.92.

Finning International (TSE:FTT) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.33 by C($0.03). The company had revenue of C$1.72 billion during the quarter, compared to the consensus estimate of C$1.67 billion. On average, research analysts predict that Finning International will post 2.07 EPS for the current year.

In related news, Senior Officer Gregory Palaschuk acquired 2,240 shares of the stock in a transaction on Friday, May 10th. The stock was acquired at an average price of C$22.81 per share, for a total transaction of C$51,094.62. Following the completion of the purchase, the insider now owns 15,065 shares of the company’s stock, valued at C$343,634.16. Also, Senior Officer Cornelis Mauritius H.J. Breukels sold 3,484 shares of Finning International stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$22.67, for a total value of C$78,982.28. Following the transaction, the insider now owns 9,905 shares of the company’s stock, valued at approximately C$224,546.35.

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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