Finning International (FTT) Stock Price Down 3.8%

Finning International Inc. (TSE:FTT) fell 3.8% on Tuesday . The stock traded as low as C$21.80 and last traded at C$21.93. 223,012 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 484,288 shares. The stock had previously closed at C$22.79.

Several research firms have weighed in on FTT. Royal Bank of Canada cut their target price on shares of Finning International from C$40.00 to C$35.00 in a report on Thursday, February 7th. National Bank Financial cut their target price on shares of Finning International from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, February 22nd. BMO Capital Markets lowered shares of Finning International from an “outperform” rating to a “market perform” rating in a report on Friday, February 22nd. Raymond James reiterated a “market perform” rating and issued a C$26.00 target price on shares of Finning International in a report on Friday, February 22nd. Finally, TD Securities lowered shares of Finning International from a “buy” rating to a “hold” rating and cut their target price for the stock from C$31.00 to C$28.00 in a report on Friday, February 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$31.00.

The company has a debt-to-equity ratio of 109.98, a quick ratio of 0.59 and a current ratio of 1.63. The firm has a market capitalization of $3.65 billion and a price-to-earnings ratio of 20.34.

Finning International (TSE:FTT) last posted its earnings results on Thursday, February 21st. The company reported C$0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.49 by C($0.16). The business had revenue of C$1.84 billion for the quarter, compared to the consensus estimate of C$1.94 billion. On average, equities research analysts expect that Finning International Inc. will post 2.0899997716807 EPS for the current fiscal year.

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

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Finning International Company Profile (TSE:FTT)

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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