Finning International (TSE:FTT) Share Price Passes Above 200-Day Moving Average – Here’s Why

Finning International Inc. (TSE:FTT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$40.06 and traded as high as C$41.34. Finning International shares last traded at C$41.27, with a volume of 382,151 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FTT. BMO Capital Markets lifted their price objective on Finning International from C$45.00 to C$50.00 in a report on Friday, February 7th. CIBC decreased their target price on Finning International from C$50.00 to C$49.00 in a research report on Monday, February 3rd. Canaccord Genuity Group boosted their price target on Finning International from C$51.00 to C$55.00 in a research report on Friday, February 7th. Finally, TD Securities raised their price objective on Finning International from C$47.00 to C$50.00 in a report on Monday, February 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Finning International currently has an average rating of “Buy” and a consensus target price of C$49.89.

Finning International Stock Performance

The stock has a 50-day moving average of C$40.77 and a 200 day moving average of C$40.06. The stock has a market cap of C$5.67 billion, a PE ratio of 11.54, a P/E/G ratio of 0.56 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14.

Insider Transactions at Finning International

In other news, Senior Officer Kieran Colquhoun Holm sold 3,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of C$42.10, for a total value of C$126,300.00. Also, Senior Officer Cheryl Lynn Gray sold 2,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of C$44.35, for a total value of C$110,884.50. Insiders have sold a total of 7,969 shares of company stock worth $344,424 in the last quarter. Company insiders own 0.10% of the company’s stock.

Finning International Company Profile

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.