Resolute Forest Products (RFP) Price Target Cut to $13.50 by Analysts at TD Securities

Resolute Forest Products (NYSE:RFP) (TSE:RFP) had its price objective cut by TD Securities from $14.00 to $13.50 in a research note published on Friday, November 2nd. They currently have a hold rating on the basic materials company’s stock.

Several other equities research analysts have also commented on the stock. CIBC lowered shares of Resolute Forest Products from a sector outperform rating to a neutral rating in a research note on Wednesday, September 19th. TheStreet raised shares of Resolute Forest Products from a c rating to a b- rating in a report on Friday, August 3rd. Royal Bank of Canada lifted their target price on shares of Resolute Forest Products from $10.00 to $12.00 and gave the stock a sector perform rating in a report on Friday, August 3rd. Finally, Scotiabank reaffirmed a hold rating and issued a $12.00 target price on shares of Resolute Forest Products in a report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Resolute Forest Products presently has a consensus rating of Hold and an average price target of $12.88.

NYSE:RFP traded down $0.53 during mid-day trading on Friday, hitting $12.32. 296,513 shares of the company’s stock were exchanged, compared to its average volume of 442,754. Resolute Forest Products has a one year low of $7.40 and a one year high of $15.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 1.28. The firm has a market capitalization of $1.22 billion, a P/E ratio of 6.49 and a beta of 1.38.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings data on Thursday, November 1st. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.69 by $0.34. Resolute Forest Products had a net margin of 5.70% and a return on equity of 11.80%. The business had revenue of $974.00 million for the quarter. During the same period in the previous year, the firm earned $0.34 EPS. The company’s revenue was up 10.1% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Resolute Forest Products by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,851,433 shares of the basic materials company’s stock valued at $39,862,000 after purchasing an additional 228,131 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Resolute Forest Products by 43.2% during the third quarter. Acadian Asset Management LLC now owns 2,462,276 shares of the basic materials company’s stock valued at $31,886,000 after purchasing an additional 742,825 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Resolute Forest Products by 0.5% during the third quarter. BlackRock Inc. now owns 1,849,594 shares of the basic materials company’s stock valued at $23,952,000 after purchasing an additional 8,297 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Resolute Forest Products by 36.2% during the second quarter. Renaissance Technologies LLC now owns 1,258,800 shares of the basic materials company’s stock valued at $13,029,000 after purchasing an additional 334,300 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Resolute Forest Products by 80.7% during the first quarter. Millennium Management LLC now owns 984,010 shares of the basic materials company’s stock valued at $8,167,000 after purchasing an additional 439,383 shares during the last quarter. 91.90% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Resolute Forest Products (NYSE:RFP)

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