Finning International Inc. (TSE:FTT) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$34.72.
A number of equities analysts have recently issued reports on FTT shares. CIBC raised their target price on shares of Finning International from C$29.00 to C$31.00 in a research report on Tuesday, October 24th. Canaccord Genuity raised their target price on shares of Finning International from C$33.00 to C$36.00 in a research report on Wednesday, October 18th. TD Securities upgraded shares of Finning International from a “hold” rating to a “buy” rating and set a C$29.00 target price on the stock in a research report on Thursday, August 3rd. Scotiabank restated an “outperform” rating and set a C$32.00 target price on shares of Finning International in a research report on Saturday, September 23rd. Finally, Raymond James Financial, Inc. raised their target price on shares of Finning International from C$32.00 to C$36.25 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th.
In related news, insider Kevin Parkes sold 2,074 shares of Finning International stock in a transaction on Thursday, November 9th. The shares were sold at an average price of C$31.62, for a total value of C$65,579.88. Also, insider David William Cummings acquired 9,500 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average price of C$28.50 per share, for a total transaction of C$270,750.00.
Shares of Finning International (TSE FTT) traded up C$0.03 on Thursday, hitting C$30.95. 65,818 shares of the stock were exchanged, compared to its average volume of 436,810. Finning International has a twelve month low of C$23.76 and a twelve month high of C$32.93.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Thursday, November 23rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.76 dividend on an annualized basis and a yield of 2.46%. Finning International’s dividend payout ratio (DPR) is 76.03%.
About Finning International
Finning International Inc is engaged in the selling, servicing and renting of heavy equipment, engines, and related products in various markets worldwide. Its segments include its Canadian operations, which include British Columbia, Alberta, Saskatchewan, Yukon, the Northwest Territories, and a portion of Nunavut; South American operations, which include Chile, Argentina, Bolivia, and Uruguay, the United Kingdom and Ireland operations, which include England, Scotland, Wales, Northern Ireland and the Republic of Ireland.
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