Finning International (TSE:FTT) Price Target Cut to C$48.00 by Analysts at CIBC

Finning International (TSE:FTT) had its target price reduced by equities researchers at CIBC from C$50.00 to C$48.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 25.00% from the stock’s current price.

A number of other research firms have also recently weighed in on FTT. Scotiabank set a C$51.00 price target on Finning International and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Royal Bank of Canada dropped their target price on shares of Finning International from C$50.00 to C$46.00 in a research report on Thursday. TD Securities upgraded Finning International from a “hold” rating to a “buy” rating and increased their target price for the company from C$43.00 to C$45.00 in a research note on Friday, August 9th. BMO Capital Markets upped their price objective on shares of Finning International from C$48.00 to C$50.00 in a research report on Thursday, August 8th. Finally, Raymond James reduced their price objective on shares of Finning International from C$52.00 to C$50.00 in a research note on Thursday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Finning International presently has an average rating of “Buy” and an average target price of C$48.00.

Finning International Stock Performance

TSE FTT traded up C$0.48 on Thursday, hitting C$38.40. 384,643 shares of the company’s stock were exchanged, compared to its average volume of 350,135. Finning International has a fifty-two week low of C$34.04 and a fifty-two week high of C$45.17. The company has a debt-to-equity ratio of 113.71, a current ratio of 1.55 and a quick ratio of 0.59. The firm’s 50-day moving average price is C$41.37 and its two-hundred day moving average price is C$40.84. The firm has a market cap of C$5.36 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.56 and a beta of 1.55.

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.