CIBC Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price objective raised by stock analysts at CIBC from C$48.00 to C$50.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 30.45% from the company’s current price.

A number of other brokerages have also recently weighed in on FTT. Royal Bank of Canada dropped their price objective on shares of Finning International from C$50.00 to C$46.00 in a report on Thursday, November 14th. Canaccord Genuity Group reduced their price objective on shares of Finning International from C$53.00 to C$51.00 in a research report on Thursday, November 14th. Scotiabank set a C$51.00 price target on shares of Finning International and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Raymond James reduced their price target on shares of Finning International from C$52.00 to C$50.00 in a research report on Thursday, November 14th. Finally, BMO Capital Markets reduced their price target on shares of Finning International from C$50.00 to C$46.00 in a research report on Thursday, November 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Finning International presently has a consensus rating of “Buy” and a consensus price target of C$48.25.

Finning International Trading Down 0.5 %

Shares of FTT stock opened at C$38.33 on Thursday. The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.59 and a current ratio of 1.55. The stock has a market capitalization of C$5.35 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The company has a 50 day moving average price of C$40.68 and a 200 day moving average price of C$40.21. Finning International has a fifty-two week low of C$34.28 and a fifty-two week 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.