Domtar Corp. Upgraded to Neutral by Macquarie (UFS)
Domtar Corp. (NYSE:UFS) was upgraded by analysts at Macquarie from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of Domtar Corp. (NYSE:UFS) traded up 3.42% during mid-day trading on Monday, hitting $78.67. The stock had a trading volume of 124,547 shares. Domtar Corp. has a one year low of $65.01 and a one year high of $87.08. The stock’s 50-day moving average is $69.00 and its 200-day moving average is $71.77. The company has a market cap of $2.589 billion and a price-to-earnings ratio of 31.49.
Domtar Corp. (NYSE:UFS) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.07. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts predict that Domtar Corp. will post $4.07 earnings per share for the current fiscal year.
A number of other firms have also recently commented on UFS. Analysts at TD Securities raised their price target on shares of Domtar Corp. (NYSE:UFS) from C$80.00 to C$85.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Bank of America Corp. upgraded shares of Domtar Corp. (NYSE:UFS) from an “underperform” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. Finally, analysts at Zacks downgraded shares of Domtar Corp. (NYSE:UFS) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 5th. They now have a $76.00 price target on the stock.
Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $89.38.
In other Domtar Corp. news, CFO Daniel Buron sold 9,110 shares of the stock on the open market in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $75.50, for a total value of $687,805.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and adult incontinence products.
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