Resolute Forest Products (RFP) Given Consensus Recommendation of “Hold” by Brokerages

Resolute Forest Products (NYSE:RFP) (TSE:RFP) has received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.88.

Separately, TD Securities lowered their target price on shares of Resolute Forest Products from $10.50 to $9.50 and set a “hold” rating for the company in a research note on Friday, February 1st.

In related news, insider Jacques P. Vachon sold 42,216 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $8.51, for a total transaction of $359,258.16. Following the completion of the transaction, the insider now owns 110,374 shares in the company, valued at $939,282.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently modified their holdings of RFP. Executive Wealth Management LLC acquired a new position in shares of Resolute Forest Products during the fourth quarter worth $39,000. Prudential Financial Inc. acquired a new position in Resolute Forest Products in the fourth quarter valued at $118,000. Campbell & CO Investment Adviser LLC acquired a new position in Resolute Forest Products in the third quarter valued at $143,000. Ramsey Quantitative Systems boosted its stake in Resolute Forest Products by 28.2% in the fourth quarter. Ramsey Quantitative Systems now owns 18,046 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 3,973 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Resolute Forest Products in the third quarter valued at $190,000. Hedge funds and other institutional investors own 90.99% of the company’s stock.

Shares of Resolute Forest Products stock traded down $0.09 during trading hours on Friday, reaching $7.90. 245,186 shares of the company were exchanged, compared to its average volume of 395,882. Resolute Forest Products has a 1 year low of $7.27 and a 1 year high of $15.75. The company has a current ratio of 2.01, a quick ratio of 1.22 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $718.72 million, a P/E ratio of 4.02 and a beta of 1.23.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings data on Thursday, January 31st. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.48). The company had revenue of $932.00 million for the quarter. Resolute Forest Products had a return on equity of 11.00% and a net margin of 6.26%.

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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