CIBC Cuts New Flyer Industries Inc (NFI) Price Target to C$59.00

New Flyer Industries Inc (TSE:NFI) had its price target decreased by CIBC from C$61.00 to C$59.00 in a research note released on Tuesday morning.

Other research analysts have also recently issued reports about the company. TD Securities upped their price objective on New Flyer Industries from C$62.00 to C$63.00 and gave the stock a buy rating in a research report on Friday, July 14th. BMO Capital Markets reaffirmed a market perform rating and set a C$57.00 price objective on shares of New Flyer Industries in a research report on Friday, August 25th. Finally, Scotiabank upped their price objective on New Flyer Industries from C$59.00 to C$60.00 and gave the stock an outperform rating in a research report on Friday, August 11th.

Shares of New Flyer Industries (TSE NFI) opened at 53.24 on Tuesday. New Flyer Industries has a 1-year low of $36.25 and a 1-year high of $57.70. The stock’s 50 day moving average price is $51.32 and its 200-day moving average price is $52.64. The stock has a market capitalization of $3.35 billion and a P/E ratio of 22.30.

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In related news, Director Vincent James Sardo sold 1,700 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of C$54.31, for a total transaction of C$92,327.00. Also, insider Wayne Ray Joseph sold 10,800 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of C$51.00, for a total value of C$550,800.00. Insiders have sold 42,500 shares of company stock worth $2,174,373 in the last quarter.

New Flyer Industries Company Profile

New Flyer Industries Inc manufactures and sells transit buses and motor coaches in the United States and Canada. It operates through two segments, Transit Bus and Coach Manufacturing Operations, and Aftermarket Operations. The company also distributes parts with fabrication, manufacturing, distribution, and service centers.

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