Resolute Forest Products (NYSE:RFP) (TSE:RFP) had its target price boosted by Royal Bank of Canada from $13.00 to $14.00 in a research note issued to investors on Friday. The firm currently has a sector perform rating on the basic materials company’s stock.
A number of other equities analysts also recently commented on RFP. TD Securities cut their price objective on Resolute Forest Products from $14.00 to $13.50 and set a hold rating on the stock in a report on Friday. Scotiabank restated a hold rating and issued a $12.00 price objective on shares of Resolute Forest Products in a report on Friday, August 3rd. TheStreet upgraded Resolute Forest Products from a c rating to a b- rating in a report on Friday, August 3rd. Finally, CIBC upgraded Resolute Forest Products from a neutral rating to a sector outperform rating in a report on Wednesday, July 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Resolute Forest Products presently has an average rating of Hold and an average target price of $12.88.
NYSE RFP traded up $0.14 during trading hours on Friday, hitting $13.79. 14,165 shares of the company’s stock were exchanged, compared to its average volume of 421,516. Resolute Forest Products has a 12-month low of $7.35 and a 12-month high of $15.75. The company has a market capitalization of $1.23 billion, a PE ratio of 6.59 and a beta of 1.38. The company has a current ratio of 2.52, a quick ratio of 1.28 and a debt-to-equity ratio of 0.40.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its quarterly earnings data on Thursday, November 1st. The basic materials company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The company had revenue of $974.00 million for the quarter. Resolute Forest Products had a return on equity of 11.80% and a net margin of 5.70%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share.
Several large investors have recently made changes to their positions in the stock. Paloma Partners Management Co acquired a new stake in Resolute Forest Products during the 2nd quarter valued at approximately $130,000. CAPROCK Group Inc. acquired a new position in shares of Resolute Forest Products in the 2nd quarter worth approximately $137,000. Ramsey Quantitative Systems acquired a new position in shares of Resolute Forest Products in the 3rd quarter worth approximately $182,000. Cubist Systematic Strategies LLC grew its position in shares of Resolute Forest Products by 40.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,446 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 5,634 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Resolute Forest Products in the 2nd quarter worth approximately $217,000. Institutional investors and hedge funds own 91.90% of the company’s stock.
About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
Featured Article: NASDAQ Stock Market Explained
Receive News & Ratings for Resolute Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.