Hardwoods Distribution (TSE:HDI) PT Raised to C$18.00

Hardwoods Distribution (TSE:HDI) had its price target increased by Canaccord Genuity from C$15.00 to C$18.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

Several other brokerages have also recently commented on HDI. CIBC lifted their price target on shares of Hardwoods Distribution from C$15.00 to C$17.00 in a research report on Wednesday. National Bank Financial lifted their price target on shares of Hardwoods Distribution from C$16.00 to C$16.50 and gave the stock an outperform rating in a research report on Wednesday, October 16th.

Shares of TSE:HDI traded up C$0.32 during trading on Wednesday, hitting C$15.31. 100,200 shares of the company’s stock were exchanged, compared to its average volume of 39,682. Hardwoods Distribution has a 1-year low of C$10.04 and a 1-year high of C$15.49. The firm has a 50-day moving average price of C$12.17 and a two-hundred day moving average price of C$12.31. The company has a current ratio of 2.02, a quick ratio of 0.77 and a debt-to-equity ratio of 71.61. The firm has a market cap of $277.30 million and a P/E ratio of 11.69.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 20th will be given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, January 17th. This is a positive change from Hardwoods Distribution’s previous quarterly dividend of $0.08. Hardwoods Distribution’s payout ratio is currently 23.85%.

Hardwoods Distribution Company Profile

Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential and commercial construction sectors in Canada and the United States. The company offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, and solid surfaces.

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