Scotiabank set a $8.25 target price on Resolute Forest Products (NYSE:RFP) (TSE:RFP) in a report published on Friday. The brokerage currently has an underperform rating on the basic materials company’s stock.
Other analysts have also issued reports about the company. TheStreet raised Resolute Forest Products from a d+ rating to a c- rating in a research note on Wednesday, November 29th. TD Securities reduced their price objective on Resolute Forest Products from $11.50 to $9.50 and set a hold rating on the stock in a research note on Friday. Royal Bank of Canada reaffirmed a hold rating and issued a $6.00 price objective on shares of Resolute Forest Products in a research note on Friday, October 20th. Finally, CIBC lowered Resolute Forest Products from an outperform rating to a neutral rating in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $8.92.
Shares of Resolute Forest Products (NYSE RFP) opened at $7.75 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Resolute Forest Products has a 52 week low of $4.10 and a 52 week high of $12.15. The stock has a market capitalization of $718.39, a PE ratio of -8.24 and a beta of 1.47.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.47). Resolute Forest Products had a positive return on equity of 0.73% and a negative net margin of 2.39%. The business had revenue of $898.00 million during the quarter. During the same quarter last year, the firm posted ($0.03) earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year.
In other news, VP Silvana Travaglini sold 6,355 shares of Resolute Forest Products stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $8.80, for a total value of $55,924.00. Following the transaction, the vice president now directly owns 30,342 shares of the company’s stock, valued at approximately $267,009.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacques P. Vachon sold 15,300 shares of Resolute Forest Products stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $8.52, for a total value of $130,356.00. Following the completion of the transaction, the insider now directly owns 108,260 shares in the company, valued at $922,375.20. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RFP. Vanguard Group Inc. lifted its stake in shares of Resolute Forest Products by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,216,531 shares of the basic materials company’s stock valued at $22,953,000 after purchasing an additional 274,356 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Resolute Forest Products by 73.4% during the 4th quarter. Acadian Asset Management LLC now owns 578,537 shares of the basic materials company’s stock valued at $6,393,000 after buying an additional 244,878 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Resolute Forest Products by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,777,616 shares of the basic materials company’s stock valued at $12,221,000 after buying an additional 209,465 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Resolute Forest Products during the 2nd quarter valued at about $384,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Resolute Forest Products by 1.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,160,049 shares of the basic materials company’s stock valued at $20,252,000 after buying an additional 67,540 shares during the period. 87.08% of the stock is currently owned by institutional investors and hedge funds.
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About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.
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