Analysis: Finning International Inc (TSE:FTT) Target Raised Today
In a note disseminated by RBC Capital Markets on 9 December, the firm, Finning International Inc (TSE:FTT), had their target price lowered to $20.00. Analusts at present have a solid “Sector Perform” rating on the stock.
From a total of 11 analysts covering Finning International Inc. (TSE:FTT) stock, 5 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 45% of the ratings are positive. The highest target price is $17.93 while the lowest target price is $12.7. The mean of all analyst targets is $15.65 with a 24.20% above today’s ($18.02) stock price. Finning International Inc. was the topic of 17 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Canaccord Genuity upgraded shares on August 27 to “Buy” rating.
Approximately 485,967 shares of stock traded hands. Finning International Inc. (TSE:FTT) has declined 29.98% since May 6, 2015 and is downtrending. It has underperformed by 29.18% the S&P500.
The overall sentiment of institutions has decreased to 0.67 in Q2 2015. Its down 1.13, from 1.8 in 2015Q2. The ratio fall, as 4 institutions have sold all the shares of Finning International Inc. that they owned while 5 funds have taken shares off the table. 3 funds have purchased shares for the first time while 3 added to their positions. These institutions now hold 5.45 million shares or 10.46% less than the 6.09 million shares they owned in 2015Q2.
The Fund Karpus Management Inc. currently is holding shares equating to 1.09% of its total portfolio in Finning International Inc. representing a total of 1.73 million shares. Another fund,Sit Investment Associates Inc, is holding a total of 3.34 million shares equating to 0.84% of their holdings. Additionally, Weiss Asset Management Lp has a 41,746 share stake in Finning International Inc. which represents 0.42% of their total portfolio. The Fund, Yakira Capital Management Inc., based out of Connecticut, has also built up a stake in the stock, which represents a total of 0.36% of their total portfolio. Finally Rivernorth Capital Management Llc, a fund which is based in the state of Illinois reported a total holdings of 224,869 shares.
Finning International Inc. is a Canada Caterpillar dealer. The company has a market cap of $3.05 billion. The Firm sells, rents and provides parts and service for equipment and engines to clients in various industries, including mining, construction, petroleum, forestry, and a range of power systems applications. It has 12.2 P/E ratio.