Resolute Forest Products Inc. (NYSE:RFP) Receives Consensus “Buy” Rating from Analysts
Shares of Resolute Forest Products Inc. (NYSE: DP – Get a rating) (TSE: RFP) received a consensus “Buy” recommendation from the six research companies that currently cover the company, market beat reports. One research analyst rated the stock with a hold recommendation and four gave the company a buy recommendation. The 1-year average price target among analysts who have reported on the stock in the past year is $18.13.
Several equity research analysts have weighed in on the company. StockNews.com began covering Resolute Forest Products in a research report on Thursday, March 31. They set a “buy” rating on the stock. Royal Bank of Canada raised its price target on Resolute Forest Products from $18.00 to $19.00 and gave the stock an “outperform” rating in a Friday, May 6 report. TD Securities raised its price target on Resolute Forest Products from $16.00 to $17.50 and gave the company a “buy” rating in a report released Friday, May 6. Finally, TheStreet upgraded Resolute Forest Products from a “c+” rating to a “b-” rating in a research report on Monday.
NYSE: DP opened at $13.92 on Wednesday. The company has a debt ratio of 0.20, a current ratio of 2.29 and a quick ratio of 1.11. The company’s fifty-day moving average price is $13.54 and its 200-day moving average price is $13.12. 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 $1.07 billion, a P/E ratio of 2.59 and a beta of 2.83.
Separately, director Suzanne Blanchet purchased 13,300 shares of the company in a transaction that took place on Wednesday, February 16. The shares were purchased at an average price of $15.01 per share, with a total value of $199,633.00. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, SVP John Lafave sold 7,600 shares in a trade on Tuesday, March 15. The shares were sold at an average price of $13.77, for a total transaction of $104,652.00. Disclosure of this sale can be found here. 1.30% of the shares are held by insiders.
Major investors have recently been buying and selling shares of the company. Royal Bank of Canada increased its holdings of Resolute Forest Products shares by 116.4% during the second quarter. Royal Bank of Canada now owns 2,389 shares of the basic materials company valued at $29,000 after acquiring 1,285 more shares in the last quarter. Bank of America Corp DE increased its stake in Resolute Forest Products by 1,658.0% in Q2. Bank of America Corp DE now owns 53,654 shares of the basic materials company valued at $655,000 after buying an additional 50,602 shares in the last quarter. Wells Fargo & Company MN increased its stake in Resolute Forest Products by 522.6% in Q2. Wells Fargo & Company MN now owns 49,220 shares of the basic materials company valued at $600,000 after buying an additional 41,314 shares last quarter. The New York State Common Retirement Fund increased its stake in Resolute Forest Products by 976.8% during Q3. The New York State Common Retirement Fund now owns 8,614 shares of the basic materials company worth $103,000 after buying 7,814 additional shares in the last quarter. Finally, Raymond James & Associates increased its equity interest in Resolute Forest Products by 15.2% during the third quarter. Raymond James & Associates now owns 134,756 shares of the basic materials company worth $1,604,000 after buying an additional 17,798 shares last quarter. Institutional investors hold 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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