Key Points
- Director Jean-Pierre Maurice Charmensat sold 2,000,000 Foraco International shares on June 12 at an average price of C$3.02, totaling C$6.04 million. After the sale, he still held 17,583,966 shares, a 10.21% reduction in his position.
- Foraco International shares were down 2.3% and recently traded around C$3.03, near their 50-day moving average of C$2.98 and above their 200-day moving average of C$2.81. The stock has ranged from a 1-year low of C$1.57 to a high of C$3.54.
- Analysts remain positive on the stock, with Desjardins raising its target price to C$4.50 and maintaining a buy rating. The consensus target price is also C$4.50, while the company recently reported C$0.01 EPS on C$92.11 million in revenue for the quarter.
Foraco International SA (TSE:FAR - Get Free Report) Director Jean-Pierre Maurice Charmensat sold 2,000,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$3.02, for a total transaction of C$6,040,000.00. Following the transaction, the director directly owned 17,583,966 shares of the company's stock, valued at approximately C$53,103,577.32. This trade represents a 10.21% decrease in their position.
Foraco International Trading Down 2.3%
Shares of FAR stock opened at C$3.03 on Wednesday. The company has a debt-to-equity ratio of 107.63, a current ratio of 1.24 and a quick ratio of 0.88. The firm has a market cap of C$296.79 million, a PE ratio of 20.60 and a beta of 1.20. The company has a 50-day moving average of C$2.98 and a two-hundred day moving average of C$2.81. Foraco International SA has a 1-year low of C$1.57 and a 1-year high of C$3.54.
Foraco International (TSE:FAR - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported C$0.01 earnings per share for the quarter. The company had revenue of C$92.11 million during the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. On average, analysts predict that Foraco International SA will post 0.5984655 EPS for the current year.
Analysts Set New Price Targets
Separately, Desjardins increased their target price on shares of Foraco International from C$3.00 to C$4.50 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Foraco International currently has an average rating of "Buy" and a consensus target price of C$4.50.
Read Our Latest Stock Analysis on FAR
Foraco International Company Profile
(
Get Free Report)
Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.
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