Canaccord Genuity Group Lowers Finning International (TSE:FTT) Price Target to C$51.00

Finning International (TSE:FTT) had its price target reduced by investment analysts at Canaccord Genuity Group from C$53.00 to C$51.00 in a research note issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 32.81% from the company’s previous close.

A number of other research firms have also issued reports on FTT. Royal Bank of Canada lowered their target price on Finning International from C$50.00 to C$46.00 in a report on Thursday. BMO Capital Markets upped their target price on Finning International from C$48.00 to C$50.00 in a research report on Thursday, August 8th. Scotiabank set a C$51.00 target price on shares of Finning International and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. CIBC lowered their price target on shares of Finning International from C$50.00 to C$48.00 in a report on Thursday. Finally, TD Securities raised Finning International from a “hold” rating to a “buy” rating and raised their price target for the company from C$43.00 to C$45.00 in a report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$48.00.

Finning International Stock Performance

Shares of TSE:FTT traded up C$0.48 during trading on Thursday, hitting C$38.40. 384,643 shares of the company traded hands, compared to its average volume of 350,135. The stock has a market capitalization of C$5.36 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.56 and a beta of 1.55. The business’s fifty day moving average is C$41.37 and its 200-day moving average is C$40.84. 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 has a one year low of C$34.04 and a one year high of C$45.17.

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.