Resolute Forest Products (NYSE:RFP – Get Rating) (TSE:RFP) had its price target raised by TD Securities from $16.00 to $17.50 in a research report released Friday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the commodity company’s stock.
Other research analysts have also released reports on the stock. CIBC upgraded shares of Resolute Forest Products from a neutral rating to an outperform rating and raised the stock’s target price from $14.00 to $19.00 in a Monday 10 research note. january. StockNews.com launched coverage on Resolute Forest Products stocks in a research note on Thursday, March 31. They issued a buy rating on the stock. One equity research analyst gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus buy rating and a consensus target price of $18.13.
RFP traded down $0.11 during Friday’s trading, hitting $14.90. The company’s shares had a trading volume of 703,086 shares, compared to an average volume of 461,124. The company has a quick ratio of 1.11, a current ratio of 2.29 and a leverage ratio of 0, 20. The company has a fifty-day simple moving average of $13.48 and a two-hundred-day simple moving average of $13.11. Resolute Forest Products has a 1-year minimum of $9.84 and a 1-year maximum of $17.65. The company has a market capitalization of $1.15 billion, a price-earnings ratio of 2.77 and a beta of 2.83.
Resolute Forest Products (NYSE:RFP – Get Rating) (TSE:RFP) last reported results on Thursday, February 3. The basic materials company reported earnings per share of $0.48 for the quarter. Resolute Forest Products had a net margin of 8.38% and a return on equity of 37.65%. The company had revenue of $834.00 million for the quarter.
In addition, director Suzanne Blanchet purchased 13,300 shares in a transaction that took place on Wednesday, February 16. The shares were purchased at an average price of $15.01 per share, for a total transaction of $199,633.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Additionally, SVP John Lafave sold 7,600 shares of the company in a trade on Tuesday, March 15. The stock was sold at an average price of $13.77, for a total transaction of $104,652.00. The disclosure of this sale can be found here. Insiders own 1.30% of the shares of the company.
Hedge funds have recently changed their stock holdings. Cubist Systematic Strategies LLC increased its position in Resolute Forest Products by 1.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 76,852 shares of the basic materials company valued at $1,174,000 after acquiring 1,081 additional shares in the last quarter. Advisor Group Holdings Inc. increased its position in Resolute Forest Products by 10.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 13,523 shares of the basic materials company worth $204,000 after buying 1,242 more shares in the last quarter. Royal Bank of Canada increased its stake in Resolute Forest Products by 116.4% during the second quarter. Royal Bank of Canada now owns 2,389 shares of the basic materials company worth $29,000 after buying 1,285 more shares last quarter. Lazard Asset Management LLC increased its stake in Resolute Forest Products by 15.1% during the fourth quarter. Lazard Asset Management LLC now owns 11,994 shares of the basic materials company worth $183,000 after buying 1,576 additional shares last quarter. Finally, Gitterman Wealth Management LLC increased its position in Resolute Forest Products by 13.6% during the third quarter. Gitterman Wealth Management LLC now owns 14,550 shares of the basic materials company worth $173,000 after purchasing an additional 1,740 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s shares.
Company Profile Resolute Forest Products (Get a rating)
Resolute Forest Products Inc, together with its subsidiaries, operates in the forest products industry in the United States, Canada, Mexico and internationally. The Company operates through four segments: Market Pulp, Tissue Paper, Wood Products and Paper. The Market Pulp segment offers virgin and recycled bleached kraft pulp, which is used to manufacture a range of consumer products, including facial tissue, packaging, specialty paper products, diapers and other absorbent products.
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