TFI International (NYSE:TFII) Shares Gap Down After Earnings Miss

TFI International Inc. (NYSE:TFII)’s stock price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $127.61, but opened at $119.58. TFI International shares last traded at $113.09, with a volume of 298,330 shares trading hands.

The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.40). The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.54 billion. TFI International had a return on equity of 20.25% and a net margin of 5.67%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TFII shares. TD Securities cut their price objective on TFI International from $180.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Susquehanna cut their price target on TFI International from $180.00 to $170.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. CIBC upped their price objective on shares of TFI International from $166.00 to $176.00 and gave the company an “outperformer” rating in a report on Wednesday, December 4th. Royal Bank of Canada cut their target price on shares of TFI International from $167.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, National Bankshares reduced their target price on shares of TFI International from $209.00 to $198.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $170.85.

Institutional Investors Weigh In On TFI International

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. raised its holdings in TFI International by 124.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 236 shares of the company’s stock valued at $32,000 after acquiring an additional 131 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of TFI International by 40.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555 shares of the company’s stock worth $74,000 after purchasing an additional 160 shares during the period. Legato Capital Management LLC raised its stake in TFI International by 8.9% in the fourth quarter. Legato Capital Management LLC now owns 10,468 shares of the company’s stock valued at $1,414,000 after purchasing an additional 859 shares in the last quarter. Plato Investment Management Ltd bought a new stake in TFI International during the third quarter worth about $134,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in TFI International by 7.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,353 shares of the company’s stock worth $5,046,000 after purchasing an additional 2,696 shares during the period. 73.30% of the stock is currently owned by institutional investors.

TFI International Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.40 and a beta of 1.57. The business’s 50 day simple moving average is $135.76 and its 200-day simple moving average is $140.89.

About TFI International

TFI International Inc, together with its subsidiaries, provides transportation and logistics services in the United States and Canada. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items in North America.